Between hype and dismissal as a fad, AI holds promise. This article helps you understand AI’s benefits for your organization and what you need to be AI-ready.
ChatGPT jolted and triggered ‘Code Red’ in the big tech companies. The hype around AI has risen to a crescendo. The hype won’t subside anytime soon now. One reason is that too much money is riding on it now. The other reason is that artificial intelligence might indeed cause tectonic shifts in the way we work and live.
Between the two extremes of ‘existential threat to mankind’ and ‘it is a just tool’, one thing is clear. AI is ready or near-ready for us to reap many of its benefits. Therefore, let us find out if we are ready for AI.
As individuals
As individuals, many of us have started using AI. Every time our smartphones recognize an image, do an image search, remove unwanted people from the picture backgrounds, deliver stunning photos by using ordinary lenses, or recognize a song, AI is at work. AI delivers better search results without trudging through many websites.
At work, AI helps us to compose or reply to emails. It helps us to use the full power of spreadsheets and generate better presentations. We are ready for AI.
What about your organization?
The benefits of AI can be narrow-band productivity or transformative depending on how you look.
Narrow-band productivity
AI can make general-purpose applications like advertising and marketing, budgeting and accounting, or forecasting sales more efficient and feature-rich. The datasets needed for training and testing AI models are more easily available within each industry.
Your organization can benefit from better solutions like the above as and when they are available. Your people too can raise their productivity in some buckets like emails, spreadsheets, presentations, or transcriptions of meetings. If you buy AI-based enhancements and train your people, you will be ready.
Transformative benefits
Every organization has far more business and operational data within its boundaries than it can use. Your organization is sitting on humongous data and information begging to be used.
An example
You know that your profitability and winnability depend entirely on the way you build your project proposals. Leave out some costs in your estimation and your profits get hit. Build too much buffer in your cost estimate and you risk getting beaten by your competitor. You have a lot of data about the projects you have already executed.
Can your salespeople and project teams analyze all of it and fine-tune your proposals? AI can help you here. AI can present you with interesting actionable points. Your proposal building team can collaborate and decide on action. This can make a difference between winning or losing contracts and between making profit or loss in every contract.
It is not just about building a proposal faster, but making it realistic and winnable. This is an example of transformative benefits of AI.
Being AI-ready
AI needs datasets for training and testing. Your data is scattered in various spreadsheets and databases.Different types of data needs to be brought together.The datasets need to be in suitable formats and validated.
Your data and information must present a Single Version Of The Truth.
You need to bust your data silos to be ready for using AI.
Read how you can bust data silos and improve your business workflows like proposal building, resource allocation, etc., by deploying ProductDossier PSA.
The PSA uses a single version of every type of data from the point of its generation and uses and combines it with other data for rich, meaningful, and reliable chunks of information,
Once you implement the ProductDossier PSA, you are ready to supercharge your business workflows using AI and reaping its transformative benefits.
Contact us for more information or a demo at sales@productdossier.com
