How to REALLY Get Value from AI

I am confident that by reading this post, you will gain valuable insights into the practical applications of AI beyond your current knowledge.

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Since 2018, my journey into the realm of AI has been nothing short of immersive. It all began with the inception of Elete, a groundbreaking mobile application. Notably, Elete achieved a significant milestone as the first-ever machine learning and computer vision platform designed to process data directly on iPhones, specifically tailored for athletes to develop basketball skills. The success of Elete culminated in its acquisition in 2021.

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In subsequent years, Valere, the company I founded, has evolved its approach by incorporating AI tools and developing internal applications. These initiatives are strategically designed to optimize Valere's internal workflows, enhancing efficiency and performance. Concurrently, our commitment extends to crafting advanced machine learning and deep learning applications, tailored to meet the unique needs of both startups and enterprise clients.

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This hands-on experience, coupled with my unwavering enthusiasm for staying abreast of the latest advancements in the field through continuous reading, has significantly expanded and enriched my knowledge in the realm of AI.

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Reflecting… I see a future where the true essence lies not just in the technical advancements but in the synergy between human ingenuity and AI capabilities. Drawing inspiration from influential works such as "The AI Factor" and "Power and Prediction," it's evident that the real economic value of AI will be harnessed by visionary leaders willing to take the leap in rethinking their business or their industry. ?As you delve into this post, I'm confident you'll discover more about how to leverage AI than ever before. Best of luck on your transformative journey.

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In today's rapidly evolving technological landscape, the adoption of artificial intelligence has transcended the realms of a futuristic vision to become a strategic imperative for businesses aiming to stay ahead of the curve. From the initial deployment of "point solutions" to the optimization achieved through "applications solutions" and ultimately the establishment of "system solutions," the integration of AI at various levels provides businesses with diverse timelines and return on investment (ROI).

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Point Solutions: Quick ROI

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Commencing the AI journey begins with the swift adoption of "point solutions." These targeted applications, implemented within 1-2 months, offer rapid ROI, exemplifying the transformative potential of AI. For instance, employing AI to predict maintenance needs empowers companies to optimize workforce allocation, liberating resources for more critical tasks.

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Application Solutions: Larger ROI

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With the initial benefits realized, the focus shifts to "applications solutions." This phase involves identifying and implementing AI in broader business functions. In the e-commerce industry, an AI application can revolutionize marketing campaigns by reviewing customer data, identifying new demographics, and creating an entirely new audience to target. The result is a fresh market to explore and expand.

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System Solutions: Constructing a Strategic Moat

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The pinnacle of the AI journey is the integration of "system solutions," requiring approximately 8-18 months. This phase involves reverse engineering internal systems to embed AI into various facets, replacing human judgment with AI predictions. This transformation is analogous to the historical shift from steam power to electricity in factories, creating a strategic moat within the industry.

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The Industrial Revolution Analogy: Revolutionizing for Maximized ROI

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Drawing parallels with the industrial revolution, businesses should perceive AI as a transformative force. Similar to the transition from steam power to electricity, AI adoption may initially involve exchanging and adapting processes. However, the true breakthrough occurs when businesses overhaul their entire systems, leveraging AI to modularize facilities and introduce new workflows, marking the most significant ROI.

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The Steep Curve of an Appreciating Asset

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Strategically integrated AI becomes an appreciating asset with a steep curve. Employing a feedback loop and continuous data input refines AI applications, ensuring sustained improvement and unlocking previously undiscovered value, as exemplified in the e-commerce scenario. This iterative process positions AI as a cornerstone for long-term success.

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In conclusion, embracing AI is a strategic journey requiring a thoughtful and phased approach. Transitioning from point solutions to applications solutions and, ultimately, system solutions unlocks AI's full potential, creating a lasting competitive advantage. The future belongs to those who view AI not as a standalone technology but as a transformative force capable of reshaping industries through comprehensive and strategic integration.