Want to Implement Artificial Intelligence in Your Business? [5 Tips] Start With AI here.

so artificial intelligence or applications in artificial intelligence Im sure you have heard about tons of them so hi this is Vaishali Kalia in this video Im going to talk about if you want to implement AI in your retail and BDD business where do you start what is the least risky way to start and what are the five things you must consider when youre evaluating a technology to see if it actually will work for you so.

there two ways of going at it one is the right way one is the wrong way so best way is find a business problem that you are trying to solve and then find it a a technology that actually will help you solve that problem so business problem could be you want to reduce the checkout table you want to reduce the shipping time you want better analytics things like that and the wrong way which most people end up doing is they go find an.

artificial intelligence technology just because its cool and then they try to force it into a business problem and thats where they run into problems right so artificial intelligence landscape their multiple ways and multiple implications so there are chat BOTS their natural language processing which is used for searching theres pattern recognition which is used for you know recognizing peoples face and hear and so forth so find best the reason why Im saying find the business problem but you want to solve that will actually help you generate more revenue improve your business and then find in.

AI technology to do that so where do you start so lets look at an example lets say youre a beauty company and you sell multiple products and one of your products that you sell is a haircolor product and for a typical company of front end and back and facing processes like Im oversimplifying it but you kind of will get the idea so on the customer facing side you have customer interactions you have cushion that customer ask which it could be how does.

the hair color would look on me you know what is the return policy you want to improve your website or purchase experience you know you want to increase your customer retention and you want to reduce your returners so these are more like front end customer facing issues and on the back end you have manufacturing processes shipping inventory management analytics still multiple things you can also.

manage on the back end using AI but for this interaction were gonna focus on one thing which is customer interaction and questions based on your product which is the hair color product so typically for people I want to use your product the number one question there have as how will this color look on me right because they dont want to buy something thats not gonna look on them and that might be the biggest hurdle for them for converting from them a potential customer into a paying customer so ideal solution so were.

going to talk about two solutions one would be the perfect ideal solution and the second will be a starter solution where you can actually get started so before we evaluate one of those things these are the five things I want you to keep in mind that I always consider when Im evaluating any type of technology so number one is time frame like how much.

time will it take to implement this technology so does it take one month six months a year to implement it second is data dependency like how dependent is this technology on the data I am providing it in order for this artificial intelligence technology to function the way I want it to function number three infrastructure needed like what is the infrastructure needed for the implementation like can i implemented by myself is it a plug-and-play solution or do I need to get the engineers involved and.

so on and so forth number four is technology risk because artificial intelligence body in today is still technology and technologies always have bugs they stopped running so what is if this technology stopped functioning tomorrow after you implement is it going to put your whole business on a halt or is it just going to be an independent incident that doesnt affect the rest of.

your business number five is approvals like how many levels approval do you need do you need just your manager to say okay and you can implement it or do you need approval from your CEO or CTO and CMO and so forth right so five things you should evaluate so lets look at four the ideal solution so your ideal solution would be using apps for solution thats a four or Modi phase.

user that somebody looks on your website on their camera or either they look for the app and the app recognizes either their face or their hair depending on what youre selling and then they can select the product and it tells them how this product in real time is going to look on the face or on the hair and so forth right so this will be the ideal solution that will be amazing for any customers to use but lets evaluate these five things for them time frame definitely a lot of times it will take at least six.

months to a year to implement this technology highly dependent on data because you will have to do multiple testing with the users like how youre gonna integrate the data into your databases so very very dependent on the data structure infrastructure you definitely need a software engineers to implement it this is not a plug plug and play solution technology risk pretty high right so if youre implementing this on a website or your app and this is the main where you are bringing customers and converting.

them into paid ones so if this thing stops working your whole app or your websites that portion the conversion funnel will actually be at fault and you will definitely need approval from your CEO or cm or CTO is going to implement this technology right so ideally this is the perfect solution but then if you have enough money you have access to a lot of infrastructure this is a great.

way this is a long term plan youre a bigger company then yeah you can implement this but if youre starting out like how do you start this is probably not the best solution for you so what I would recommend is starting that would be a chat bar its a chat bot is customer ask a question and you have implemented different answers into the.

chat button the customer recognized the chat bar recognizes what type of wording the customer is using but have question theyre asking and if the chat but cannot answered as prefect answers then the issue gets it to the human and once the human agent or your customer service person answers those questions the chat bar learned from it so next time when the customer asked a similar question.

the chat pod can actually respond with a better answer right so it keeps track of chat history improves the bar keeps learning and so forth so lets evaluate those five things that we talked about before right so our goal is to use the chat but how does it function so time frame definitely you can probably implement a.

chat bond in in about less than four to six weeks right because theres a lot of plug-and-play chat BOTS that already exist data dependency you dont need that much data to implement it you can even as a marketing manager you can actually start inputting what questions what questions customers are asking and you can start putting your answers in it so you dont need too much data so start the chat pod functionality infrastructure you dont need to involve your engineers most likely these are plug-and-play solutions that you can.

implement on your website and theyre good to go technology risk pretty low right so if the champ stops working tomorrow all you have to do is is take it away or make it unavailable to people and it doesnt really affect rest of your business approvals yes and no you probably dont need you know your CEOs approval to implement chat but but probably your immediate manager and you can implement it pretty faster and there are tons of companies that already give you.

plug-and-play chat pod solutions and these are like the top five that Ive used but I think theyre like 50 plus that you can actually use to implement it so this will be great way to start so if you are you know of starting a big beauty retail e-commerce business and you want to implement the I I would recommend start with a chat pod it will help you learn how a I works and once your basics are.clear and then you can go to step two or step three and learn more so hide this abyss Sean Collier and if you like this video please consider subscribing to our channel and if you have any follow-up questions you know do leave them in the form of a comment Ill be more than happy to answer so thank you very much guys have a great day.