Sourcing the best AI Solutions for your Enterprise is becoming a huge priority for most businesses in recent years, with its potential to revolutionize how companies operate and make decisions. By collecting and analyzing valuable customer data, AI can provide insights into customer behavior and preferences, allowing businesses to better target their marketing efforts and improve their e-commerce systems. AI can also help businesses streamline their hiring processes, reduce customer care costs, and improve cash flow forecasting. However, many businesses have been slow to adopt AI, partly due to the challenges of navigating a crowded and often overwhelming market of AI providers.
At Olive, we offer a unique solution that provides unbiased guidance to businesses, helping them find the right AI solutions that meet their specific needs. Our streamlined procurement process reduces the timeline from months to weeks, enabling businesses to embark on their digital transformation journey swiftly and effectively. When searching for the best enterprise AI solution, it is crucial to start by identifying your business’s unique needs and involving stakeholders from across the organization to ensure a comprehensive evaluation.
What are the Benefits of AI for business?
Enhanced Customer Insights
AI empowers businesses with valuable information about customer behavior and preferences. It enables targeted marketing campaigns, optimized website structures, and personalized e-commerce systems. With AI, you gain a deep understanding of how customers interact with your business, allowing you to refine marketing strategies and deliver a seamless customer experience.
Other Benefits
While Customer benefits are unanimously championed, they are not the only improvements experienced from the introduction of AI.
Customer Care Cost Efficiency – Gartner predicts chat boxes and automated systems will reduce the need for human resources by up to 25% by answering simple queries quickly.
Streamlined Hiring – Hiring processes are drastically shortened due to automated screening calls, psychometric tests, and automated candidate evaluations. Large-scale per hire costs are diminished significantly by employing basic AI solutions.
Cash Flow Forecasting– AI removes subjectivity and human error from cash flow forecasts. Monitoring cash flow trends and producing analytics reports based purely on facts and trends. It allows little bias from the hopes or targets of CFOs.
These are just a sample of the possibilities. Embracing AI is changing industry and insight. Leveraging the very best of technology empowers decisions unlike anything else in industry history.
Understanding the Challenges
While the benefits of AI are clear, not all businesses have fully embraced it. The software buying process can be cumbersome, lacking credibility, and time-consuming. Vendors and evaluators often prioritize their own offerings instead of meeting clients’ specific needs. This disconnect can hinder businesses from finding the right AI solutions that truly align with their objectives.
Olive’s Unbiased Solution
At Olive, we understand the importance of unbiased recommendations. We help you focus on needs discovery and requirements. Unlike traditional market evaluators, we do not charge vendors for featuring opportunities, ensuring an impartial approach. Our streamlined and efficient process has significantly reduced the procurement period, allowing businesses to find the best enterprise AI solutions in weeks rather than months.
How to Choose the Best AI Solutions for your Enterprise
1. Start with Your Business Needs
To find the best enterprise AI solution, it is essential to identify the specific areas of your business that can benefit from AI. Define your goals, determine where you lack valuable insights, assess competitors’ advantages, and identify areas of improvement and success criteria. This process sets the direction for your search. Finding the best AI solutions is predicated upon solving the right problems for your business. Without having a goal or need in mind, there is no direction. The search for the most valuable AI to you starts with deciding what you need to improve or achieve. For example;
– What areas of your business are currently underserved by insight?
– What decisions are made with the least or most subjective information?
– Where do competitors get an edge?
– What do you not know about your customer’s preferences?
– What has been a traditional weak area?
– What does success look like?
2. Rank Your Priority Requirements
Once you understand your needs, prioritize them based on their criticality. Consider how different departments can benefit from AI, compliance requirements, security needs, and the information that will drive actionable next steps. Involve stakeholders from all relevant departments to ensure a comprehensive assessment. Empowered by answering these questions, you will have a better understanding of where you need to strengthen. With your search focused, it becomes manageable to rank your priorities:
– How can I break down my area of focus?
– What are critical business needs from my AI?
– What would be nice to have but is not essential?
– Does my AI service need to comply with other software?
– How essential are my security needs?
– What information creates valuable, actionable next steps?
It is important to take into account the opinions of each stakeholder throughout the process but most notably at the start. Without the representation of the full team’s needs, vital needs may be overlooked. Can both the IT and marketing departments make use of the information provided? What is the top priority of each stakeholder?
3. Gather Potential AI Solution Vendors
Expand your search and explore various market options. While comparison sites are useful, be aware of their bias due to pay-to-play systems.
Olive stands out by focusing solely on your needs, ensuring a trustworthy and collaborative experience. Broaden your options to find the best available solutions. By equipping yourself with a list of priorities, you will be prepared to find potential vendor solutions.
Where time allows, search far and wide to find the best available market options. Depth is not necessarily a major concern for this portion of the search.
While market-evaluating comparison sites are great for unearthing options, they traditionally come with bias and drawbacks. Most comparison sites work on a pay-to-play system meaning the options you see pays to influence their visibility. Unfortunately, this means a perfectly valid option that isn’t subscribed to the site you use may not be featured.
This is one of Olive’s unique strengths. We are concentrated on the best option for you and not representing seller needs. Removing bias from the process is of utmost importance to us. We want to create a trusting, collaborative experience.
4. Shortlist and Evaluate the AI Solutions that Best fit the Enterprise’s Needs
Shortlist a manageable number of serious contenders, considering budget, cost/value relationships, and ancillary costs. Evaluate the data provided by each AI service, its usability across departments, tangible benefits, user-friendliness, analytics clarity, and how well they address your priority needs. Request demos, gather references, and involve colleagues to ensure a thorough evaluation.
5. Choose the Best Enterprise AI Solution
Ultimately in trimming down to a shortlist, you are hoping for digestible solutions applicable to your specific needs. If you end up with a shortlist with no perceptible way of addressing your priorities, you have lost sight of the aim. Go back to the last step.
During the selection process, it is easy to drift from priorities as you are treated to sales pitches and corporate buttering up. Don’t get distracted by glamourous sales pitches or fancy dinners unless they serve your needs.
Ask for anything and everything you need to explore the credibility of your vendor. This should include references and reviews.
Finally, ask for a demo! You wouldn’t move to a new neighborhood without first visiting. The same applies to AI. Take a run through the systems on offer and scrutinize where possible. Bring colleagues and appropriate stakeholders.
– Did each vendor speak specifically to your needs?
– Will an after-sales service be available?
– Were there any surprising and helpful benefits?
– Who else uses this service? How is it used by others?
– How did your colleagues feel about each option?
– Can your business be improved significantly by using this option?
If required, revisit your ranked priorities to avoid personal bias. Those needs are why you embarked on this process; it is only fair that they conclude it. The priorities are the voices of your teammates and end-users and satisfying those leads to business success. The route may be protracted but it is undoubtedly crucial. Each part impacts the eventual value you will derive from renting AI and should not be overlooked.
Olive – Your Enterprises’ AI-Powered Digital Transformation Coach
Introducing Olive, your trusted AI-powered digital transformation coach. Olive understands the significance of continuous improvement and is dedicated to guiding enterprises through their transformative journeys. With Olive by your side, you can harness the full potential of digital transformation and stay ahead of the curve!
Use Olive’s AI-powered solution to;
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build and manage enterprise data sets
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research technology with specific guidance and focus on the initiative you’re looking for
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discover needs
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gather and manage requirements
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compare vendors, and accelerate vendor selection
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create a continuous ai powered digital transformation loop in your organization
AI-Powered Digital Transformation: Streamlining Enterprise Vendor Selection and Beyond
