Functions of AI Strategies

Be it startups or MNCs, for a company to grow stronger and develop as a renowned company, having a good strategy is a key feature. Artificial Intelligence is one of the most broadly used instruments in almost every sector of work and life. To be more specific, Educational Apps are fundamentally dependent on AI.

In this article, Edureify will discuss some of the strategies that help apps and companies function better with AI.

In an overview, investing in AI strategies will help a company in the following ways-

• Help divide customers and products into groups that have similar needs and functions
• Make a market survey and predict customer purchases and patterns
• Understand the shelf-life value of a customer or product
• Develop the supply chain accordingly and perform the product maintenance accordingly

The real-world implementations of AI with its ground-breaking OpenAI’s language-generating algorithm called GPT-3 have helped generate a lot of profitable outcomes for companies using AI. The companies that use AI invest in the following AI strategies-

• The Efficiency Strategy- The automation system used in AI requires an efficiency strategy. The efficiency strategy helps in activities that require defined rules and routines. Companies invest in this strategy with the intention of reducing costs and helping optimize their processes.
• The Effectiveness Strategy- This strategy helps to better enable the communication and coordination of workers. By taking the role of an assistant, AI helps by making humans more effective by reducing their work of scheduling, communication, or monitoring. With the system of Chatbots, an effective strategy can be widely used.

Here were two AI Strategies that enable companies to better use the available technology.

AI strategy further enables a company to engage in the following-

DATA→ INSIGHT→ ACTIONS

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To better prove the requirement of strategic planning of AI, here are some statistics we have collected-

• An MNC using various econometric methods predicted in 2018 the GDP in 2030 will be 14% higher as a result of AI.
• Another company predicted its growth to be 16% higher by 2035 with AI that will help increase productivity by 40%

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To bring in the digital transformation in a company, the following three things need to be looked into-

• Acquiring technologies or tools?
• Recognize the new processes that need to be adapted
• Reform the company culture

Experts have analyzed and believe that AI and automation are the key features that will help bring in these changes. AI strategies will take care of acquirement, implementation, and delivery changes that a company plans for itself.?

AI enhances cybersecurity and also helps reduce manual work. Automation technology makes sure that 75% of the alerts that a company faces on a daily basis are handled without human intervention and are dealt with securely. Therefore, it is important for companies to invest more in enlarging their automation and AI technology to ensure their development and growth.?

Here were some pointers that show how AI strategies help in the development and growth of a company. Edureify itself understands the need of the hour and to better reach its audience, it is making sure to have all the statistics and data strategy planned for better growth.

For more such discussions on AI, stay tuned to Edureify.?

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