This year I received a lot of questions regarding AI. Not everyone knows the benefits on why is important to invest as soon as possible in AI, and the goal of this short article is to explain the reasons.

Who invests in Innovation?

First of all I want to talk about people who understand the importance of investing in innovation.

We have always looked upon Steve Jobs and Bill Gates as the most significant innovation gurus in the world. Apple revolutionized the way we use our phones and Microsoft established the use of personal computers. There are a few moments that change the course of history. Most of them started with a crazy idea. But luck favors the bold. And the bold people are the ones that will lead the world to the future.

Why Artificial Intelligence?

According to Forbes magazine. Business leaders and investors universally agree that Artificial Intelligence (AI) and Machine Learning (ML) will transform their businesses by reducing costs, managing risks, streamlining operations, accelerating growth, and fueling innovation.

We all agree that computers are great with numbers, running programs and models, and as humans, we are great at using the capabilities and technologies of computers combined with our understanding of human emotion and behavior to come to a reasonable conclusion.

The KEY to understanding AI is understanding that AI seeks to combine machine capabilities with human intelligence.

Nowadays, companies face more pressure to adapt and deliver results faster than ever before. The resources AI provides, allow companies to process large volumes of data in order to make faster and more assertive decisions, optimize results and reduce operational costs. As I always say, AI potentiates human capabilities to reach these results faster.

The AI market is forecast to hit $15.7 trillion by 2030

Did you know?

Did you know that Microsoft has specialized AI services for specific business scenarios?. Their services can help to:

• Modernize business processes with task-specific AI to solve for common scenarios.
• Accelerate development with built-in business logic that enables you to launch solutions in days—not months.
• Run responsibly anywhere with security that extends from the cloud to intelligent edge.

Did you know that during its re:Invent 2021 conference in Las Vegas, Amazon announced a slew of new AI and machine learning products and updates across its Amazon Web Services (AWS) portfolio? Amazon has put resources into both the consumer-oriented side of AI and in applications for organizations and their procedures.

Did you know that Facebook’s AI research group, known as FAIR, is focused on advancing the field of machine intelligence and growing new technologies to furnish individuals with better approaches to communicate?

Identify the Problems You Want AI to Solve

Now that you are sure you want to invest in AI, my advice is you identify which problem you want AI to help you solve.

Think about how you can add AI capabilities to your existing products and services. More importantly, your company should have in mind specific use cases in which AI could solve business problems or provide demonstrable value.

Developing an AI system may take lots of time and resources. Experts can help you understand the data needs of AI and simplify the AI integration for you.

According to the IDC(International Data Corporation), AI is one of the top technologies in 2021, with worldwide revenues for the artificial intelligence market, including software, hardware, and services, forecast to grow 16.4% year over year in 2021 to $327.5 billion. 

Final Thoughts

History is being made right in front of our eyes. The next two decades will be full of mind-blowing innovations that can change the course of history.

AI technology is undoubtedly bringing new opportunities for companies to solve many business challenges faster and more effectively, but it’s not for everyone. So, before investing in artificial intelligence, ask the question: “Is AI the right solution for my business, and how can it solve my business problems?”