Veritone Inc.
07/31/2024 | Press release | Distributed by Public on 07/31/2024 10:24
Unlocking the Power of AI: Harnessing Business Value through Adoption
Summary:
- Advancements in cloud computing and enhanced processing power have made artificial intelligence (AI) more accessible, revolutionizing business operations, improving efficiency, and fostering innovation across various sectors supporting their digital modernization initiatives.
- Organizations effectively utilize AI in customer service through chatbots, cybersecurity with real-time threat detection, relationship management via customer data analysis, digital personal assistants, inventory management, content production, and more.
- The Veritone AI Solutions Group offers a structured framework focusing on organizational data readiness, technology selection, process integration, and product development to guide businesses through the effective development of data strategies and AI adoption to maximize return on investment as quickly as possible.
It's no secret that artificial intelligence (AI) has become a critical business tool, transforming how organizations operate and engage with customers. The convergence of on-prem, cloud, and hybrid environments, enhanced computing power, and user-friendly AI solutions have made AI more accessible than ever. This has enabled businesses of all sizes to leverage AI's transformative potential to drive growth, improve efficiency, and unlock new avenues for innovation. While many organizations are establishing initiatives to pursue these results, most do not know how to adopt AI effectively.
AI adoption that leads to business impact
Leading organizations across industries are starting their own "AI taskforces" for one simple reason-to identify, plan, and deploy AI applications that deliver business value.For the foremost, according to a Forbes Advisor survey, some of the most popular AI applications include:
- Customer service:AI-powered chatbots and virtual assistants provide 24/7 support, enhancing customer satisfaction.
- Cybersecurity and fraud management:AI algorithms detect and mitigate security threats in real-time, protecting sensitive data.
- Relationship management:AI systems analyze customer data to provide insights that improve relationship management and marketing strategies.
- Digital personal assistants:AI assistants leveraging the latest Generative AI models to streamline tasks and improve productivity.
- Inventory management:AI optimizes inventory levels, reducing waste and ensuring products are available when needed.
- Content production:AI tools assist in generating content, making production faster and more efficient.
Since generative AI is bringing massive attention to AI's potential, most organizations need to uncover easy wins to adopt AI that will drive short-term impact. That way, they don't waste valuable budget on a neverending adoption project that doesn't align with business goals and provides a tangible return on investment.
To help organizations accomplish this, the Vertione AI Solutions Group (AISG) developed a framework, The Veritone AI Adoption Framework, to provide a step-by-step process for adopting AI that makes the most sense for their business.
The Veritone method for adopting AI
The Veritone AISG is at the forefront of AI innovation, offering comprehensive data and AI services to guide organizations through their digital transformation journeys. This framework is structured around four key areas:
- Organization First:Ensuring the organizational data readiness for AI adoption, including aligning AI initiatives with business goals and securing executive sponsorship.
- Technology:Selecting and implementing the right AI technologies that align with the company's needs and goals.
- Process:Streamlining processes to integrate AI seamlessly into business operations.
- Product:Developing AI-driven products that enhance value propositions and drive innovation.
This framework helps organizations assess their AI maturity and develop a strategic roadmap for AI integration. It can be tailored to fit the unique needs of any organization, providing the tools, strategies, and best practices necessary to harness AI's transformative power effectively. By following this structured approach, organizations can navigate the complexities of AI adoption, mitigate risks, and achieve tangible business value. Get started by downloading the framework below.