Business Strategy 2018: Adopt A.I. Early, or Get Left Behind
A recent research report published by consulting and research firm McKinsey found that a corporate hierarchy is developing the wake of the digital and AI-driven era, and it’s being fueled by a stark reality of doing business in 2018 and beyond: Adopt AI-based technologies early or get left behind.
In the research report, McKinsey surveyed over 3,000 business executives in seven western countries in North America and Europe. Of the companies that identified themselves as "extensive adopters" of AI, some 71% of them said they expect revenue growth exceeding +10%. That is not insignificant revenue growth, by any measure, and it points to a stark reality facing mid to large-sized businesses of all industries. Find ways to adopt and implement AI into production and services or run the risk of having a larger rival beat you to market.
The evidence is already there. According to one of the authors of the report, extensive AI adopters had better financial performance than those who did not, and they’re using AI to do more than simply cut costs. Successful companies are increasingly seeing AI as an opportunity to improve efficiencies, quality, and to create entirely new products.
For companies that are reluctant to adopt AI or simply do not see the opportunity as useful or necessary, they risk falling further and further behind as larger companies not only create the most efficient business models but also attract the top talent. No matter what industry a business is in, they should be looking over their shoulder at companies that are pouring resources into pure AI research. These companies – largely found in the US and China — may have the ability to grow and scale little chance for anyone else to catch up. Think Google, Microsoft, Amazon, Baidu, and Tencent.
The Investment and Financial Industry Faces the Same A.I.-Driven Evolution
Hedge funds and large institutional investors have been using Artificial Intelligence to analyze large data sets for investment opportunities, and they have also unleashed A.I. on charts to discover patterns and trends. Not only can the A.I. scan thousands of individual securities and cryptocurrencies for patterns and trends, and it generates trade ideas based on what it finds. Hedge funds have had a leg-up on the retail investor for some time now.
Not anymore. Tickeron has launched a new investment platform, and it is designed to give retail investors access to sophisticated AI for a multitude of functions:
- Finding stock patterns in the market
- Finding trends in the stock market
- Testing portfolios to see if they are well-diversified
- Back-testing statistics to see how different stock patterns generated trading results
- Making Predictions for price movements in the future, with “A.I. Rank” and level of confidence in the trade.
And much more. No longer is AI just confined to the biggest hedge funds in the world. It can now be accessed by everyday investors. Learn how on Tickeron.com.
