3 ways to create value with AI in your business
The question is no longer whether businesses should use artificial intelligence (AI), but how to leverage it quickly and effectively to remain competitive and profitable.
When used strategically, AI is a powerful driver of productivity, efficiency and profitability. More than 78% of Canadian SMEs that have invested in AI are satisfied with their return on investment, according to a BDC study.
However, for an AI investment to succeed, it must address a specific and measurable business need.
“You have to strike the right balance between adopting AI simply because it’s trendy and waiting indefinitely for the perfect use case before taking action. The key is to experiment, understand what these technologies make possible and then identify the right opportunities for your organization,” says Henrik Van Der Horst, AI Strategist at Moov AI, a Montreal-based firm specializing in AI solution development.
Here are three ways to create value with AI in your business.
1. Use generative AI tools to increase efficiency
The simplest way to benefit from AI is to integrate generative AI tools into your day-to-day operations. These tools are easy to adopt and can deliver quick wins.
The latest AI tools can also function as agents capable of interacting with applications already used by your business, including management software (ERP, CRM), collaboration platforms and other business systems.
AI agents can search for information across multiple sources, perform certain tasks and automate parts of workflows, all under human supervision.
Examples include:
- Automating administrative tasks (such as drafting sales proposals, executive presentations and invoices)
- Transcribing meetings automatically
- Creating marketing and social media content
- Analyzing large volumes of documents and extracting key insights and recommendations
- Gathering information from multiple internal and external sources
- Comparing business scenarios to support decision-making
This approach is an excellent entry point into AI. Easy to access and quick to deploy, these tools can rapidly improve team productivity while preparing your business for more advanced applications.
Adoption, however, is a critical success factor. To maximize the benefits, it is important to train and support your teams, establish best practices and fully integrate these new capabilities into their daily work.
AI has evolved from tools designed to generate text into tools that can interact autonomously with business systems, retrieve information, trigger actions and automate parts of workflows.
Henrik Van Der Horst
AI Strategist, Moov AI
2. Use solutions available on the market
More and more software applications and platforms now have built-in AI capabilities, including customer relationship management (CRM) software, accounting tools, customer service platforms, marketing solutions and human resources systems.
This approach allows businesses to go beyond general-purpose AI and take advantage of advanced functionality without undertaking a complex custom development project.
Examples include:
- Using AI features within a CRM to prioritize leads or summarize customer interactions
- Adopting a customer service platform that automatically answers frequently asked questions
- Using accounting software that detects anomalies or automates parts of data entry and invoicing
- Applying computer vision to analyze production lines and identify product defects
- Using demand forecasting solutions to improve inventory management
3. Launch transformational ai projects tailored to your business challenges
A third way to create value with AI is to develop or integrate a solution designed specifically for your business.
These projects are often more transformative, but they are also more demanding. They typically focus on a key process, a recurring operational challenge or a business opportunity that existing tools cannot easily address.
They require an in-depth assessment of business needs, available data, existing systems, risks and operational impacts.
In many cases, support from specialists may be required. Start with a clearly defined process and business objective, then validate results on a small scale before investing further.
Examples include:
- Developing a demand forecasting model based on historical company data to improve inventory, production and workforce planning
- Automating a complex workflow across multiple internal systems
- Analyzing customer requests to classify, prioritize and route them to the appropriate person
- Developing a decision-support tool powered by internal data to support planning, sales, operations and resource management.
More customized AI projects can create a significant competitive advantage. But they generally require more technical expertise, investment and time than adopting an existing AI tool.
Henrik Van Der Horst
AI Strategist, Moov AI
Choosing the right level of ambition
These three approaches are not mutually exclusive. You can start by training your teams to use generative AI, then adopt AI-enabled features within existing software and eventually launch a more transformative project for a critical process.
The key is to choose the level of ambition that aligns with your expected return and long-term objectives.
“In every case, the conditions for success remain the same: a clear business need, well-trained and supported teams, appropriate governance and performance indicators to measure results,” says Van Der Horst.
How to choose AI solutions that deliver results
Limited time, constrained resources and uncertainty about performance often make it difficult to select the right AI tools.
1. Identify your biggest business challenges
- Where are we losing money?
- Where are we wasting time?
- Which tasks are repetitive, manual and time-consuming?
Another useful exercise is identifying business opportunities. “This could mean entering a new market or pursuing larger contracts. Then determine how AI can help you achieve those goals. But be sure to involve your operational teams from the outset and throughout the process,” says Henrik Van Der Horst.
2. Make sure AI is really the right answer
Avoid using AI simply for the sake of using AI. In some cases, a simple form, a process adjustment or better communication may be all that is needed.
Think of AI as a way to make better use of your time, money, data and people.
Henrik Van Der Horst
AI Strategist, Moov AI
3. Find the AI solution that meets your needs
Many business owners try to build their own AI solutions without first exploring what is already available.
“Very often, the AI solution you need is already built into tools you use, such as CRM, ERP or invoicing systems,” says Van Der Horst.
4. Start small, with a proof of concept
Instead of launching a six-month project, begin with a six- to twelve-week pilot focused on a clearly defined segment, such as a production line, a team, a customer segment or a specific task.
5. Measure the results
Track the benefits generated by AI, such as average time saved per task (and how that time can be reinvested in higher-value activities), the number of errors eliminated and improvements in customer satisfaction.
Accept that AI may not be perfect at first. Productivity gains accumulate over months, not in a matter of days. However, it is important to establish realistic and precise performance indicators.
6. Train and support your teams
An AI licence that no one uses will generate no value. Help your teams understand the benefits of AI by demonstrating its value through practical examples.
“Another best practice is assigning clear ownership of AI initiatives and decisions to key individuals. If everyone is responsible, no one is,” says Van Der Horst.
Taking action
Van Der Horst believes that too many business owners delay AI adoption until “everything is ready.” On the other hand, many see AI as a magic bullet. “AI is just one lever, not a magic wand. But you need to start using it now, or you risk falling behind. Many of your competitors are already using AI.”
Next step
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