Artificial intelligence (AI) is clearly a growing force in the tech industry. AI is at the centre of the conferences and shows potential in a variety of industries, including retail and manufacturing. The new products are built into virtual assistants, while chatbots answer customer questions on everything from your online office provider’s website to your web host’s support page. Companies like Google, Microsoft, and Salesforce are now integrating AI as an intelligence layer across their entire technology stack. This AI plateau takes place below the surface, making our existing technology smarter and unleashing the power of the data companies collect. That means: Widespread advances in machine learning (ML), computer vision, deep learning, and natural language processing (NLP) have made it easier than ever to integrate an AI algorithm layer into your software or cloud platform.
Get familiar with AI:
Take the time to familiarize yourself with the capabilities of modern AI. TechCode Accelerator offers its startups a wide range of resources through its partnerships with organizations and companies in the field of artificial intelligence. Plus, take advantage of the wealth of information and resources available online to familiarize yourself with the basics of AI. Tang recommends some of the remote workshops and online courses that organizations like Udacity offer as an easy way to get started with AI and expand your knowledge in areas like ML and predictive analytics in your company. POS software is an important application of AI in business.
Identify the problems that AI should solve:
Once you understand the basics, the next step for any business is to examine different ideas. Think about how you can add artificial intelligence capabilities to your existing products and services. Most importantly, your business should be on the lookout for specific use cases where AI could solve business problems or deliver demonstrable value. Next, you need to assess the potential business and financial value of the various potential AI implementations that you have identified. It’s easy to get lost in discussions about AI, but Tang stressed the importance of linking your initiatives directly to business value.
Recognize the internal skills gap:
There is a marked difference between what you want to achieve and what you can achieve within a given period. Tang said that a company should know what it can and cannot do from a technical and business process perspective before beginning a full AI implementation. Point of sale software greatly helps in the growth of your business. Once your business is ready from an organizational and technical standpoint, it’s time to start building and integrating. Tang said the most important factors here are starting small, keeping the project’s goals in mind, and most importantly, knowing what you and what you don’t know about AI. This is where calling in outside experts or AI consultants can be invaluable.
The application of disruptive tech like artificial intelligence is quite popular in the point of sales (POS) market, especially across retail. It offers the consumers the ability to handle virtually all payment methods, across online platforms, mobile apps, via chat, social apps and of course, instore payments. The use of AI in POS software helps eliminate the losses by accurately tracking inventory and orders. The seamless integration with inventory, marketing, accounting, and purchase helps automate processes for your business. Further, they provide insights on the changing behaviour of customers with recommendations on how to reengage with them.
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