Artificial intelligence (AI), the interdisciplinary science focused on building smart machines capable of performing tasks that typically require human thought. Still early in adoption, however accelerating faster than before to every industry enabling businesses to eliminate traditional constraints and transform the rules of competition.
AI is only good as the data it uses to train to provide valuable outputs - Garbage in garbage out was a term we have heard from the time computing gained popularity in industrial automation and analytics. And it remains valid when we are entering the AI boom around the world. Poor quality data leads to wasted time and effort in digitalization projects in your organization and industry. You are far away from boarding the AI train if you do not have efficient technology platforms to collect, manage and share information within your organization and business partners.
We often hear that AI automates things. But the real power for AI will empower all those small and big organizations to leverage data to improve their businesses, bring in more revenue and innovate the way you worked all these years. AI will contribute to economic growth and will be a valuable tool for improving your work and life in coming years. Businesses should identify possible areas of AI adoption considering factors such as efficiency, accuracy, and productivity, not to forget that recognising human aspect of change is crucial in successfully adopting AI within your organization.
Will AI adopted competetors impact my business ? As digital networks and algorithms are woven into the fabric of firms, industries begin to function differently and the lines between them blur. The changes extend well beyond new born-digital firms, as more-traditional organizations, confronted by new rivals, move toward AI-based models too. Walmart, Fidelity, Honeywell, and Comcast are now tapping extensively into data, algorithms, and digital networks to compete convincingly in this new era. Whether you’re leading a digital business or working to revamp a traditional enterprise, it’s essential to understand the revolutionary impact AI has on operations, strategy, and competition. In maritime we have a lot to prepare, data collection, accuracy of information, automation of processes etc before stepping into AI strategies.
How to preopare for AI revolution in your industry ?
- Initiate clear objectives and strategy within your organizational teams.
- Foster an AI-Ready culture.
- Build or acquire necessary skills. Prompt engineering skills specific to your area.
- Ensure data readiness.
- Adopt a scalable technology infrastructure.
- If your existing digital solutions are not efficient, upgrade it now.
- Implement ethical AI practices.
- Pilot projects to gain momentum.
Get ready to experience the power of AI, solve complex problems, automate mundane tasks, create new products and services, scale your business with reduced efforts and advanced capabilities. Preparation is the key, dont just wait and watch.
Intersting links : Competing in the age of AI , AI in Maritime