How to accelerate business growth with AI

Most business leaders agree that AI will transform their businesses for the better. But for many, the strategy for AI remains a big question mark. To help you out, this week David had a chat with Shemmy Majewski, the CEO of our #AmplifyreHub partner, DLabs.AI about how to accelerate business growth with the help of AI. Check it out! Do you have any questions for DLabs.AI about

David: Welcome to another episode of our AskTheHub series where we take questions from the community on business technology and product development and talk with experts in the field from the Amplifyre hub, today we have Shemmy Majewski he is the CEO of DLabs and we'll talk about how to accelerate your business growth with the use of AI. Hi Shemmy, how are you doing?

Shemmy: Hi thanks, perfect great weather today, so in a very good mood.

David: That's nice to hear, yes it's very hot today right I think it's the hottest day of the year so far. Before we go on to the topic of AI and how you can actually use AI in a business, let's talk a bit about your company DLabs, what is the company about?

Shemmy: DLabs was been founded out of personal reasons, so to speak I had diabetes for over 20 years and we started by building solutions for other people with diabetes to help them manage a condition. The conditions more effectively of course for the for having a better quality of life and longer life and at some point, we figured out okay we are building a team of experts team of machine learning engineers and artificial intelligence experts so why not help other companies build their products using AI as well, so we are a software house that is specialized in artificial intelligence and our main difference from competitors is that very often we solve challenges that are not possible to solve with the standard tools or platforms we often build our own algorithms to solve those challenges, etc.

David: So since you are dealing with AI on a day-to-day basis, what do you see right now in the market in which industries you see AI growing a lot.

Shemmy: Yeah, so Covid of course changed or accelerated a lot of things so we see the trends like healthcare where because of the post-COVID times we'll be growing even faster and will help in predictive analytics disease detection drug discovery which is very popular recently early diagnosis and personalized medications and care and also it can, of course, outbreaks monitor outbreaks of infectious diseases even cisco released a report recently that global machine to machine connection in healthcare is growing at a rate of 30 yearly which is the highest compared to any other industry and going from healthcare, we can also of course mention about retail and E-commerce product recommendation AI-powered customer service and user personalization because again obviously Covid has accelerated and changed also how we work, how we buy accelerated those behavioral changes on the market.

David: What are the main benefits that a business can have when they are using AI so when they are going in this direction what other advantages that they can get out of it.

Shemmy: Except those about optimization and of course economics of ai that can help grow revenue optimize work of employees etc. And there are also other benefits, one of the things that I observed recently is that customer support probably will be the next thing that will benefit from AI in a very huge matter and I’m not talking about the chatbots, etc, I’m talking about the how we can make customers support, customer experience and then the touchpoint between customer and customer support more effective and with a higher, let's say value higher quality so those are the things that I see and um from the benefits, of course, one of the examples is that cutting time off or scaling up the processes inside the organization with AI is better than doing it manually of course.

David: Since we have many cases where they are starting out with AI, actually and using it to optimize business processes, let's say I’m a businessman who is thinking about this, I want to go into this direction and I have the impression that it might help me but I'm not 100% sure so what would you advise me as a business owner to look for or to think about in order to realize if this direction actually is a good one.

Shemmy: There are a couple of practical things I would advise, we even published recently an e-book on how to implement AI in your company which consists plenty of suggestions, how to actually get started but there are two things, I will mention now there is even a joke about that in the network I found it on twitter, practical machine learning is 90 of data preparation 9 percent arguing whatever library A is better than library B, and 1 percent of waiting which of course is a hermetic job but it gives a perspective, first you have a data not only they not only a vast amount of data but also clean data so be sure that you have it because the process will be much shorter than it will be when we have to start from scratch gathering the data which we also can help with by augmentation of the data, which is another thing that we offer our customers, and second thing I will mention now is, start small, so start from proof of concept, show that working with AI, building AI for this particular process or for this particular service or solution will be beneficial and then you can show it to your stakeholders and probably by doing these small steps you can gather more funds but also trust that this is a good direction.

David: Thank you very much for your insights on the topic and thank you for taking the time today.

Shemmy: Thank you, David.

David: My pleasure, for the viewers out there, if you have questions to DLabs or how to accelerate business growth to AI, please leave them down here in the comments and we are happy to answer them, see you next time.

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