April 17, 2020
In Wake of COVID-19, Firms Flock to AI Development for Value and Cost-Benefit
Here at Advertise Purple, we’ve kept it somewhat under wraps but are currently in the ‘beta’ development stage of a new A.I. platform.
There is plenty of information on its way about that coming very soon.
That said, naturally, at this point in time, we’re generally interested in learning more about the likelihood of companies to implement new and enhanced software to help make their businesses run more smoothly.
As advocates for change in data analysis processes within the digital marketing arena, we’ve proved out first hand the amount of time, money, and manpower a team can avoid spending through automation and leveraging new and improved tech.
That’s why it’s interesting to see the Wall Street Journal report today on companies that desire to be more nimble and agile in their ability to process and manage business data.
They’re doing so by looking to alternative solutions to whatever data management systems their firm previously had in place. Most of these newly implemented systems are cloud-based or artificial intelligence software applications.
This trend was certainly observable prior to the Coronavirus pandemic, but now that we’re living through this uncertain and unforeseen period, it’s become especially impactful for a company to reassess their data management situation.
International Data Corporation (IDC) reported that companies are looking to cut costs and boost revenue right now. While this is obviously something that is true with almost every business in all of history, now the ability to be agile and nimble can pay off big time.
“As a result of Covid-19 there’s a premium on agility, and the cloud and associated services can give enterprises a high degree of agility,” said Crawford Del Prete, IDC’s chief executive officer and its former chief researcher.
“Cloud is a subscription model that replaces physical and logical compute and application infrastructure, so by definition it tends to be more resilient to market downturns,” Mr. Del Prete said.
At the same time, he added, artificial intelligence and other advanced software tools allow companies to analyze data, automate processes and eke out greater efficiencies: “Once you can measure it, you can more effectively manage it and potentially monetize new data sets,” he said.
This is exactly what our goal was when we set out to develop our new technology. We wanted to help our clients and our own in-house data and account management teams come to direct conclusions based on data, more seamlessly.
Our goal was to put them in the position to be able to make affiliate management recommendations in real-time and with a high degree of certainty that the decisions they were making were accurate.
It’s not that we weren’t doing this already. In fact, our business model hasn’t really changed. We’ve just opened up capacity to help more clients reach their goals, in less time.
There’s a common misconception when discussing A.I., too, that artificial intelligence is going to “take our jobs” or replace our employees. This couldn’t be further from the truth.
Through automation and a more streamlined digital approach to data management, companies don’t take away the human touch necessary to run a business. Rather, they empower those humans to have more time and the ability to work on projects that necessitate human oversight.
And all of the projects they previously worked on that could be done immediately, through automation, are handled algorithmically.
So, yes, cloud-based I.T. and data management tech along with artificial intelligence will permeate throughout the world economy, hitting almost every industry. This implementation will save time and money for companies of all shapes and sizes.
I just urge you to be an early adopter rather than getting caught flat-footed in a year or two when you’ve missed out on the opportunity to enhance your company infrastructure out of irrational fear of making what may have felt like a major change.
The technology is out there. All your company needs to do is harness it.
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