How To Solve Marketing Challenges In AI & ML Companies

All the tech giants, experts, technology gurus, and geeks in the world believe that Artificial Intelligence and Machine Learning led applications to have huge potential to transform business processes by making them better. Then why AI & ML adoption is not prevalent in the market is a grueling question. In our last blog, we identified and discussed the reasons behind the reluctant behavior of businesses to implement AI & ML solutions. In this article, let us discuss the ways to overcome the challenges.

This could be done by a strategic demonstration along with the proof points to showcase how AI and ML technologies can change lives. However, there exists a problem! The machine does not understand what humans want or what is acceptable to us. It only does what it is trained to do, based on the data and algorithms. If that does not happen, it could easily turn into a nightmare.

Tips for AI & ML Development Companies to Gain Marketshare

Bringing Awareness Among People with Explainable AI

Meanwhile, the Man vs Machine debate rumbles on and on, there are many who believe that AI & ML solutions are not comprehensive enough. They see the AI & ML picture more as a fantasy. The only answer to this is the “Explainable AI” concept.

Explainable AI is the latest subset of AI technology that is innovated to explain how such decisions are made by the AI systems. It can provide perhaps the deepest insights into the data, variables, and prediction parameters to come to a conclusion for creating an action item or making a decision. Explainable AI makes it possible to define what kind of exact data is needed, to ensure that our Ethics and AI must go hand-in-hand.

Transparency is the Key To Build Trust

Until and unless people know the way AI works with the kind of data it requires based on algorithms, businesses will continue to be skeptical about adopting AI & ML solutions.

The overall business ecosystem needs to accept the technology and institutional awareness is needed. It is the responsibility of the AI community and AI solutions providers to educate the businesses about the use of this life-transforming technology to embrace it with full transparency to develop the trust factor. The establishment of the next wave of innovation via Artificial Intelligence and Machine Learning to the ground level is only possible once this awareness is implemented in the market.

AI development companies must identify the ways of educating their existing clients or new target market. One of these ways is expert counseling.

Expert AI Counselling

In the midst of this unawareness of panic in the market to go ahead for AI & ML implementation, especially the non-tech businesses, the AI & ML app development services and solutions providers are putting their best efforts to gain and increase market share.

Strategic AI counseling stands out above all to turn this scenario into a win-win situation. There are three main areas where AI counseling really helps business owners to understand what they could get with AI & ML solutions and what it takes to implement. Those factors are:

Counseling to Revise Business Models

The main thing here to start with will be to identify, understand the nature of the industry, business processes, and areas/processes which can be automated with AI & ML. The goal of course will be to cut down the costs along with enhanced productivity. The cost of AI & ML development including hiring AI & ML developers will be reviewed with a strategic roadmap.

Develop AI Strategy and Roadmap

The strategic roadmap helps the businesses understand the long-term benefits and gain a competitive advantage. Any goal-oriented organisation always looks toward upscaling the revenues. This makes it important for Artificial Intelligence & Machine Learning solutions providers to understand the challenges and the solution they are going to pitch.

Encourage to Invest for MVP/PoC to Start Things

Perhaps the affordable and cost-effective option, Proof of Concept (PoC) OR Minimum Viable Product (MVP) is the best way to start. It is an agile technique to evaluate and analyze the technical and commercial ability of the solution to upgrade and scale in the next versions. MVP boosts the chances of a more stable AI ecosystem as MVP gives the opportunity to the AI & ML developers to monitor, test, identify, and update the changes.

To Conclude…

The AI adoption in the market is scattered and relatively low at the moment due to the reasons given in this article. But things will improve a lot with the invention of explainable AI, which is expected to show its results over the next five years.

Quick Tips

Are you a business owner and wish to give it a try? Then you must consider the requirements of a successful AI & ML implementation, which are:

• Identify the business problem
• Get the right AI dev team to solve
• Ask the right questions to know about the technology
• Work closely with them to provide tools
• Perform goal-centric monitoring and evaluation

Have a project idea and wish to know more about the viability of AI & ML development and implementation services? Contact the AI & ML experts at IndiaNIC.