By Fountech Solutions

Today, businesses are under real pressure to innovate. In many cases, artificial intelligence (AI) will be the answer to a vast array of organizational needs, delivering quantifiable benefits to those that require them. However, not all companies will be so lucky.

With so many vendors offering the “next best thing” in AI, founders would be right to remain sceptical. Indeed, as the tech landscape becomes increasingly overpopulated, it is becoming more difficult for businesses to distinguish between genuine AI solutions delivering legitimate value, from tools simply masquerading as the real thing.

Beyond this, companies that are new to AI might struggle to implement new solutions and see real value. So, how can business leaders start making inroads into the world of AI?

Does your organization really need AI?

Firstly, businesses should get to the bottom of whether they even need AI in the first place. Some organizations won’t actually have a pressing need for this tech to drive their business requirements, and in these cases, investment will amount to nothing more than vital resources squandered before the organization is ready.

To avoid this, business leaders should consider the process holistically: implementing deep tech should also mean creating deep AI capabilities across their organization. Indeed, companies should take smaller steps towards adoption, rather than running before they have mastered the essential skills to manage these tools.

Businesses should also look to AI vendors that can demonstrate profitability and proof of value before investing in a solution — asking important questions about its viability, as well as its capabilities to create new opportunities and tackle organizational bottlenecks. Ultimately, businesses should have a clear understanding of the potential ROI before making the leap.

Separating the wheat from the chaff

There are myriad different AI solutions on the market, but not all of them will deliver. Somewhere down the line, the vendors selling these products recognized the sway of labelling their tools as “AI” — even when deep tech has little to do with their proposition. As such, businesses might have a hard time sifting through the market to find the right tool for them.

Investing in consultation or in-house deep tech expertise will go some way to resolving this problem, as those with the right knowledge will be able to identify whether a product can deliver genuine value.

Deploying the tech

For businesses to adopt AI with any degree of success, they must have a carefully thought-out strategy — rather than quickly ushering in new tech before considering how it will affect different business processes. Looking to vendors that can provide made-to-measure solutions can help in this respect, as businesses will often find that generic solutions do not effectively meet the specific needs of their organization.

Beyond this, it’s important not to overlook the human element of implementing AI. Businesses must be confident that all employees that will interact with new solutions are not only comfortable using them, but can also get the most value out of them.

Positively, this is something that many firms are consciously accommodating for: indeed, our latest study shows that almost half (48%) of businesses plan to send staff for AI-related training in the coming 12 months, with an even greater number (58%) saying that they plan to invest more heavily in helping employees develop additional skills so that they can better use new technologies.

Getting to grips with AI doesn’t have to be difficult. Follow our page for more articles like this, as we continue to share all things AI and venture building.



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Fountech Ventures

We embrace startups that deploy artificial intelligence at its core. We are Fountech Ventures, Deep Tech AI Venture Builders.