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Operationalize AI quickly and cost-efficiently with turnkey solutions

Perry McDermott on

Turnkey AI solutions

If you've got your finger on the pulse of your business, you know you need to adopt AI sooner than later.

While commercial AI adoption is on the rise, there's still time to catch up and get ahead of the curve with "off-the-shelf", or turnkey AI solutions.

Where do you stand in the AI landscape?

Consider the following questions:

  • Are you brand new to AI? If so, where will AI have an immediate impact on your top and bottom lines?
  • Are you experimenting with an enterprise-wide AI solution? If so, are you seeing the results you were expecting?
  • Are you already developing AI in-house? If so, what can you do to optimize your existing resources?

Regardless of your position in the AI landscape, you can quickly get started with AI or optimize your existing resources by implementing proven, turnkey AI solutions that address the low-hanging fruit.

What are the low-hanging fruit?

It's all about automating tasks that have an immediate impact on revenues and costs.

Rather than using AI to automate existing jobs, use it to improve efficiency and productivity within those jobs.

After working with hundreds of B2C companies in a wide range of industries, we found that the customer lifecycle is an ideal framework for discovering highly predictive data, applying machine learning, and developing predictive models for a variety of use cases.

Let's take a quick look at a couple popular use cases to get you thinking about how they might apply to your business.

Increasing conversion rates and reducing acquisition costs

The most effective way to optimize your spend throughout the customer acquisition process is by targeting individuals with the highest propensity to convert.

So how do we identify individuals who are likely to convert?

  • The first step is to enrich your lead and customer data with additional demographic, psychographic, and property-based attributes, giving you a vibrant picture of who your leads and customers are, not just what they purchased or where they came from.
  • The next step is to use that enriched data to train the AI that will ultimately make predictions on future data inputs.
  • Once trained, the AI can make data-driven predictions on who your most likely buyers are, where to reach them, and when to reach out.

We've seen projected sales cost reductions of over $300,000 when applying this approach.

Proactively preventing customer churn

Certain companies have a notorious problem with customer churn, especially those with subscription-based business models. Using a similar approach as the one mentioned above, companies can use AI to identify churn-prone customers before they even begin showing signs of churn.

This can help minimize marketing dollars spent on these churn-prone individuals, and focus more on customers with a higher lifetime value (LTV).

A deeper dive into use cases for turnkey AI

Hopefully, you're thinking about how you could leverage a turnkey AI solution to optimize outreach initiatives across your customer lifecycle.

For a deeper dive into the opportunities available with turnkey AI, check out our free whitepaper, AI or die: Understanding the inevitability of AI in business.

AI or die: Understanding the inevitability of AI in business


For more information on to use AI to optimize your customer lifecycle outreach, download our other whitepaper, AI for the customer lifecycle: Making the most of your data.

Where do you stand in the current AI landscape?

Perry McDermott on

Artificial intelligence technologies

You've probably noticed the growing buzz around AI and ML. You've likely done some research into the field, read some AI success stories, and believe that artificial intelligence is more than just a buzzword.

Sound like you? Good, you're totally on the right path!

So is all the hype true? Is AI really as promising as it seems? Have most companies already adopted AI? Or even worse, are you too far behind to be competitive with AI?

Luckily, you're not too late.

Hype versus reality

In a survey of over 3,000 senior executives, McKinsey found that only 10% of respondents said they have actually operationalized AI at scale.

That said, another 10% claimed to have operationalized AI in at least one core business function, and about 40% are experimenting with some form of AI.

Couple those numbers with the massive increase in AI-related investments over the last few years, and we can see the time to get serious about AI is undoubtedly now.

Where's the interest, and how much is there?

Over the last five years, investments in AI have more than tripled. In 2016 alone, total investments (internal and external) ranged from $26 billion to $39 billion, with over 75% of that coming from tech giants like Amazon, Apple, Google and Baidu.

These cash-rich giants have mostly invested internally — on R&D and deployment — but they've also invested significantly in hard-to-find talent, primarily through major acquisitions.

Source: MGI Artificial Intelligence Discussion paper.

How can I possibly catch up and get ahead?

These massive investments can feel deflating, and rightly so if your plan is to go head-to-head with the giants by building up your own AI tools in-house. The good news is that you don't have to, and often shouldn't develop AI from scratch.

A wealth of AI startups have caught some serious traction by developing fit-for-purpose solutions that address focused sets of business challenges.

Whether those challenges rest in IT and security, finance and accounting, or revenue growth and marketing, organizations can easily adopt and operationalize these "off-the-shelf" solutions in a fraction of the time, and at a fraction of the cost of alternative "one-size-fits-all" solutions like IBM's Watson.

The key is to automate tasks that have an immediate impact on your top and bottom lines. AI technologies can't replace your entire marketing team, but they can arm that team with powerful customer insights and predictions, simply unattainable without powerful machine learning algorithms.

Some use cases

For more on this, and to read some specific use cases for off-the-shelf AI solutions, download our free whitepaper, AI or die: Understanding the inevitability of AI in business.

AI or die: Understanding the inevitability of AI in business