Artificial intelligence in companies: A key success factor, not just a trend

“AI is not a passing fad.” Marc Beierschoder, Head of AI & Data at Deloitte Switzerland, is quite clear about the importance of artificial intelligence in day-to-day business. What was once a shiny toy that briefly boosted a company’s reputation for innovation has long since become an essential tool for successful business operations. In particular, generative AI tools such as ChatGPT and DALL-E, which are designed to produce new content in the form of text, images, audio files or videos, are already an established part of employees’ routines.

As a result, companies need to make thorough preparations for the introduction and use of AI-powered software. According to Beierschoder, “Planning must address the following questions: what do I intend to achieve as a business, what direction do I want to evolve in and – above all – how will the tool help me give the business an edge over competitors?” Investment in state-of-the-art software is misguided unless it directly serves the company’s purpose. Beierschoder’s advice: “Make a radical and honest assessment of your aims. Is there a barrier to fulfilling these aims that software is essential to overcoming? Or is the tool just a nice thing to have, without taking me a big step forwards?”
 

AI technology: Yes, no, perhaps? It depends on the needs

How can companies find out what AI technologies suit them and are crucial to their success? First of all, it is necessary to filter out the requirements, define the aims and think about where exactly in the business AI could be used to gain a competitive edge. Is there room for improvement in Product Design? Does Customer Service have scope for further optimisation? Is the Logistics department outperforming competitors? Automation with artificial intelligence helps to simplify processes.

A chatbot that guides customers through the sales transaction, digital assistants that write e-mails, or tools that generate marketing campaigns – all of these make companies more effective, says Beierschoder.

In the requirements analysis, it is also useful to look at the cost-benefit structure in order to weigh up the cost-effectiveness of different AI tools. In this process, companies should consider not only the direct costs but, in particular, the expected added value, such as in the form of efficiency improvements or revenue growth. It is also important to consider the compatibility of the available AI technology with the existing IT infrastructure. If the selected tools are incompatible with the existing system, it will lead to costly and time-consuming disruptions.

Let’s do this! Joining together in a common cause

The willingness of employees to get to grips with the AI tools is a key factor in the use of artificial intelligence. “Companies must invest in their employees, train them in good time and to the right extent, get them on board and take them along on the AI journey,” says Beierschoder. “Some companies hold internal competitions so that interested employees can work together and just try things out,” he says, “or they send their employees to conferences and workshops in time-honoured fashion.” Dialogue not only helps to ease fears but also to develop proficiency and specialist knowledge. Contact with experts and kindred spirits keeps companies fully up to speed on the development and application of AI tools.

Data management with AI: keeping it tidy

Whether in the cloud or in local storage, data has become an essential driver of business innovations. Therefore, it is increasingly important for companies to manage their huge volumes of data as efficiently as possible if they want to unlock their long-term potential. Companies are using artificial intelligence ever more frequently to increase the quality of their data, such as by identifying discrepancies, duplicates or errors. “At the same time, AI does not work unless the data it processes is of high quality,” says Marc Beierschoder.

AI technology: Big data, bigger picture

In Beierschoder’s view, “Implementation of AI tools pays off for companies of all sizes.” The decision on whether to invest also depends on the company’s strategic focus. Cutting production costs, improving customer service or increasing efficiency in operations management are just a few examples.

The industry in which a company operates also plays an important role, as do the specific challenges and opportunities that the company wants to address or pursue. “At present, the media industry is undoubtedly benefiting most from the use of innovative AI tools, closely followed by translation agencies, which are also embracing the rapid development of AI,” says Beierschoder.

Investment in AI should always be geared towards the company’s needs. The tools themselves should be scalable and flexible so that they can grow with the company. “When implementing AI tools, it is not only important to know where you are currently at as a company but, above all, in which direction you want to evolve.”