Big Data & Artificial Intelligence within the reach of SMEs
Having become a major economic stake over the last few years, Artificial Intelligence is no longer the sole preserve of large companies. Even at their own scale, Small and medium sized companies may process their own data, or obtain some, and make the most of the opportunities afforded by big data. While the tendency is still recent in Morocco, new concrete and accessible applications in this area are worthy of consideration.
For more than a decade progress in the area of artificial intelligence (AI) has tended to make its utilization even more warranted and evident for companies. In fact, thanks to a constant increase in computer calculation capacities, an increasing number of tasks, hitherto reserved for humans, may now be assigned to computer programs.
AI and Big Data—Instruction Mode
AI consists in developing intelligent machines capable of learning and improving their operations in order to respond efficiently to new problematic issues: automation, image and video analyses, understanding language, statistical analyses, anticipating trends, aide to decision-making, etc.
To be able to do so, artificial intelligence works with algorithms, which manage a large number of data, dubbed “big data.” The power of the calculation necessary to process the data and obtain results has largely been democratized thanks to the use of Cloud: companies no longer need to physically host machines; they may access them remotely, depending on their needs, and at very accessible cost. Accordingly, applications using AI have proliferated and are now part of our day-to-day living: new GPS guide us according to the prevailing traffic conditions; vocal assistants facilitate the use of our phone or our car; social network recognize us on photos and address personalized contents to us, etc.
Data at the heart of AI
Technology being henceforth accessible to companies, it now stands ready to be fed with “data.” And here resides the main stake of AI. The data may be of a great variety—figures, texts, images, sound, videos, etc.—and emanate from different sources, such as data bases built up or purchased by companies, company website, its social networks, indicators, etc. What really matters here is their pertinence and the processing that may be made of them, but not necessarily their quantity. Accordingly, small and medium-sized companies may very well work at their own scale, using the personal data of their customers, the information coming from their site, or again, the opinions posted by consumers on social networks in order to derive numerous lessons from them. Correlations and extrapolations may thus be made in order to increase their sales or to develop their offer so as to better respond to market requirements.
New Prospects
There exist in fact several fields where AI may be used. Often it is marketing that makes the most of this mine of information: knowledge of consumers, as acquired thanks to the data, allows it to personalize communication, while adapting the offer with a great deal of precision. Similarly, in a logistical dimension, it is possible to study the behaviour of customers, by analysing orders, so as to forecast sales and optimize stock management. Big data is likewise highly solicited to follow through and improve the work carried out by Research and Development Departments.
In the latest Moroccan study on the subject, published in 2018, Mc Kinsey and Company pointed out that AI constituted a major opportunity for the Kingdom in certain sectors, most notably: in telecommunications, banking, insurance, agriculture, automotive industry, energy, auto-enterprise, and public administration.
A Process that is accessible to Small and Medium-sized Companies
For small and medium-sized companies, the first applications are often simple. They includes such tasks as setting up chat-boxes on the website, social networks, opening a Whatsapp account in order to improve relations with clients by responding automatically and pertinently to their questions. Other tools such as voice recognition and high performance translation software have likewise made their way into many companies.
But it is also possible to go beyond this. Such hurdles as costs or system complexity are long gone and new solutions are now available on the market to respond to the needs expressed by small and medium sized companies. Additionally, some editors even allow free use of their services on Cloud, albeit below a certain threshold. The experience is often conclusive and more and more companies are now taking steps in that direction. In Morocco, the trend is still at its beginnings and companies have everything to gain by integrating AI in order to innovate or get one step ahead of the competition.
Five steps to harnessing the power of big data:
- Mapping one’s data: at a first stage, it is essential to take stock of the data available in-house and to consider data that may be pertinent externally (free access or marketed data bases).
- Define the objectives of one’s strategy: the initiative must pursue set goals, depending on the fields of application chosen. The question here may be to study one’s customers, to better know the use of one’s products, to analyse the competition, to see to one’s image, and to forecast trends etc.
- Adopting the right tools: within the scope of the existing solutions, the tools that meet the requirements simply and at a reasonable cost should be selected. The best approach here is to test the different tools and seek the counsel of the experts
- Training the staff: while technology has become accessible, it is important to get to know how to use it and make the most of it. To this end, it is essential to follow through salaried staff in the setting up and actual use of these new tools in order to be able to utilise them fully
- Steering the initiative: the exploitation of the data often necessitates adjustments and agility in order to adjust it and make it more efficient. Starting from a certain level of complexity, it is necessary to rely on specific competencies/skills, whether internal or external.
Expert Advice:
“Artificial intelligence constitutes a genuine lever of development and affords new growth opportunities for small and medium-sized companies. In this digital era, data represents a real strategic asset for companies of all sizes. At the level of a SMC, big data may rest on the analysis of customer data, internal data (marketing, commercial, logistical, …), information extracted from on-line services or social networks. The use of data may boost the competitive advantages of a SMC whichmay, for example, anticipate customer needs and market trends, forecast stocks, or ameliorate the decision-taking process. SMC may, at an early stage, start their transformation data with the use of analytical tools and business intelligence, before launching projects which include big data technologies.”