How to use Artificial Intelligence (AI) for your business

Artificial intelligence (AI) has rapidly developed in recent years, driven by advances in technology, increased computing power and data availability. With more AI tools and platforms becoming accessible, businesses across different industries are looking at how AI can reshape their operations.

According to a Moneypenny survey of 750 decision-makers across UK businesses, 39% of businesses in the UK are using AI and 31% are considering adopting it. In the North East, 39% of businesses are using AI - higher than London at 35%. Whether it's the automation of tasks or gaining deeper insights from data, AI has the potential to improve efficiencies, enhance innovation and reduce costs.

But how can businesses ensure that they are getting the most out of AI? In this blog, we'll explore how businesses can adopt and implement AI successfully to align with their overall strategy.  

How to introduce AI to your business

Set your objectives 

AI tools bring a range of different benefits from better data analysis and smarter decision-making to improving customer experience and boosting productivity. But to really get the most out of AI, it's important to make sure it fits your business needs.

Start by looking at how your team works and identify any specific problems or opportunities that AI can address. Once you've done that, set clear goals so your AI efforts stay focused on what matters most to your business. For example, if you're looking to improve efficiencies, you can use AI to automate routine or repetitive tasks. This will free up time and allow employees to focus their efforts on strategic activities.

Having a clear understanding of your objectives will make it much easier to use AI in a smart and effective way that benefits your business.

Choose the right AI technology

When you think of AI, you may immediately think of Generative AI - the type that can create content from text, images and videos to software code and virtual realities from prompts. However, there are many other forms of AI that might be more suited to your business needs.

For example, machine learning uses data and systems, which can help to spot patterns, make predictions, and even automate decisions. Large language models (sometimes referred to as LLMs) are trained using vast amounts of text data that typically power chatbot systems.

Choosing the right AI tool supports your business goals and helps you get the most out of the technology.

Check your data is ready

You'll get the most out of AI when you input high quality data, so it's important to assess your data. Since AI learns from the data you give it, any flawed or inaccurate data will lead to poor results. Evaluate your data to check for accuracy and consistency. You should also ensure the data is up to date.

You also want to review the data sources you're planning to use and whether they are relevant to your goals. For example, you might be using internal data including financial data and CRM data, or external data such as social media.

Take a moment to review your current systems and the kind of data you're collecting. Are you collecting the right kind of data? Do you have the tools and setup needed to support AI properly? Having the right data will make it easier to get successful results from AI.

Start with a pilot project

Implementing AI into your business can be time consuming and complex, so it's important to get it right. One of the best ways to start is by running a small pilot project within a specific team or department. This lets you test how well your AI system works on a real-world application.

A pilot will also help you to understand what doesn't work and what needs adjusting. Whether it's technical challenges, data quality problems or staff training needs, you can fix issues early on. It also gives you the opportunity to gather feedback.

Once you've refined your approach and seen positive results, you'll be in a stronger position to expand AI across the wider organisation.

Implement training across your team

It's important to get the technology and tools right when it comes to AI, but it's equally important to have the right skills and knowledge in your team. Even a sophisticated AI system won't deliver the right results if people don't know how to use them.

Investing in training for your employees will help them to understand how your AI system fits into their roles, what it can do, and how to use it effectively day to day. Giving your employees the right support makes it more likely they will embrace new technologies and use it in ways that benefit your business.

Manage risks and develop guidelines

Though AI can be highly beneficial, it also comes with risks - especially when working with data. Whether it's privacy issues, biased results or security threats, it's important to manage these risks throughout the AI development process and beyond.

Having a strong data policy and safeguarding rules can help to protect data. For example, you might use encryption, anonymise data and control access levels. It's also helpful to create ethical guidelines for how your business will use any AI systems. This will ensure your business and employees complies with laws and ethical standards while minimising risks.  

Monitor and evaluate performance

Before you roll out your AI system, it should undergo rigorous testing to check how your model handles data and whether it can generalise beyond what it was trained on. Take into account other metrics such as accuracy, speed and efficiency, as well as whether your goals are being met.

While testing is important throughout the development stage, your AI system should be subject to ongoing monitoring and improvements. As AI relies on real-world data that continuously shifts, it's important to monitor any changes how well your model performs. Regular monitoring allows you to spot any issues such as changes in data accuracy and retrain your model if necessary.

By regularly testing and evaluating your AI system, you're making sure your AI continues to perform highly and remain reliable and adaptable.

Get started with AI with Invest-Stockton-on-Tees

AI is already transforming how businesses operate but implementing AI systems isn't just about adopting new technology. By setting clear objectives, choosing the right tools, preparing your data, and supporting your team, you can build a strong foundation for success.

With the right approach, AI can become a valuable part of your business strategy. If you're ready to explore how AI can drive growth and innovation, our Growth Advisors are here to help. Email us at invest@stockton.gov.uk and we'll connect you with the right experts and support network to get started.