Demystifying AI for Business Innovation: Strategies for Competitive Advantage

In today’s fast-paced digital landscape, Artificial Intelligence (AI) emerges as a pivotal force driving business transformation across industries. However, the path to integrating AI into business strategies often seems complex and daunting for many. This presentation aims to demystify AI for businesses, offering practical insights into how organizations can harness AI technologies to unlock new opportunities, streamline operations, and gain a competitive edge.

Audience members will leave with the following takeaways:

  • AI Readiness Assessment:
    Conduct an internal audit to assess the company’s current technological capabilities, data readiness, and identify potential AI use cases specific to their business needs. This step helps in understanding where AI can have the most impact and what foundational work needs to be done.
  • Identify Quick Wins with AI:
    Select one or two small, manageable projects where AI can be applied for quick wins. Examples include automating repetitive tasks with AI-driven tools, improving customer service with chatbots, or enhancing decision-making with business intelligence and analytics. These projects should require minimal investment but offer tangible benefits, serving as proof of concept for further AI integration.
  • Build or Enhance Data Collection Strategies:
    Evaluate and improve the company’s data collection and management practices. Since AI technologies are heavily dependent on data, ensuring high-quality, accessible, and relevant data is crucial. This may involve setting up better data tracking systems, cleaning existing datasets, or establishing data governance policies.
  • Upskill and Educate the Team: Invest in AI literacy for the team.

This can include workshops, online courses, or bringing in external experts for training sessions. The focus should be on building a basic understanding of AI, how it can be applied in your industry, and the ethical considerations involved. Empowering employees with AI knowledge will foster a culture of innovation and readiness for AI adoption.

Tyler Folkman

GM/CTO @ TubeBuddy by BENlabs

Tyler Folkman is the GM and CTO at TubeBuddy by BENlabs. Tyler is renowned for leveraging machine learning to revolutionize the entertainment and marketing industries. His innovative work has led to multiple patents in entity resolution and knowledge extraction from unstructured data.

Before joining BENlabs, Tyler spearheaded personalization and recommendation initiatives at Ancestry, significantly enhancing user experiences. He also imparted his expertise as an Adjunct Professor of Applied Machine Learning at Brigham Young University and serves on the Board of the MS in Analytics at the University of Utah.

Tyler holds a Master’s Degree in Computer Science from the University of Texas at Austin, graduating Summa Cum Laude. He considers himself a lifelong student of leadership, continually seeking to expand his knowledge and understanding of leading happy and high-performing teams.

Tyler Folkman will be speaking in the AI Track.