Explore AI

What is AI?

In theory, AI could be worked into pretty much any aspect of a business: manufacturing, HR, marketing, sales, supply chain and logistics, customer services, quality control, IT, finance and more.

From automated machinery and vehicles to customer service chatbots and algorithms that detect customer fraud, AI solutions and technologies are being incorporated into all sorts of business functions in order to maximize efficiency, save money and improve business performance.

For example, a product-based business might be tempted to skip over the potential for intelligent services, while a service-based company could easily think smart products aren’t relevant to its business model. Both might think AI-driven business processes are beyond their capabilities at this point in time.

But the most successful, most talked-about companies on the planet are those that deploy AI across all three areas. Take Apple as an example. Apple built its reputation on making and selling iconic products like the iPad. Yet, nowadays, Apple services (including Apple Music and Apple TV) generate more revenue than iPad sales. The company has transitioned from purely a product company to a service provider, with its iconic products supporting intelligent services. And you can be certain that Apple uses AI and data to enhance its internal processes.

In this way, AI can throw up surprising additions and improvements to your business model – or even lead you to an entirely new business model that you never previously considered. It can lead you from products to services, or vice versa. And it can throw up exciting opportunities to enhance the way you operate.

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