Why AI can change your way of doing business

A blog by Prof. dr. Dr Felix Janszen, Founder at E-tail Genius

Artificial Intelligence is one of the biggest trends right now. AI is also a tool that can change your way of doing business, why? Prof. dr. Dr. Felix Janszen will explain.

“The Artificial Intelligence eld is developing at lightning speed. New opportunities are added every week. But what is AI? Most of the time it’s described as: “The study of the ability of machines to mimic human behaviours such as reasoning, learning or understanding speech.” But this is not entirely true, because both must be seen as complementary to each other. What computers with AI can do in some areas, we as people can’t do at all. And vice versa. But one thing is for certain: Artificial Intelligence can help your business a lot.

The benefits of AI lies in many areas depending on the application. These are for example: cost savings (better use of the available resources (people, machines, financial resources), Increase sales and margins through, for example, better pricing and better market segmentation, making better use of the knowledge that is now divided over different departments and people, preventing knowledge from leaking away with the departure of employees. It may even be in the area of recruitment. Employees want to work at a modern company where they also learn to work with the latest techniques and tools. Companies that aren’t focusing on AI yet, have to seriously think about it. In fact, it is expected that in 5-10 years no profit driven organization can survive without making use of Artificial Intelligence to a greater or lesser extent. So, an organization without working with AI has no right to exist anymore. The most important question for those companies is: Where to start and how quickly to walk the AI path? 

It also becomes increasingly clear that the application of AI has an effect on the business model. We see, for example, that companies are entering new product markets and that is not just for companies like Amazon and Google, but also for your company.

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