An advisory firm asked companies to start preparations for long-term artificial intelligence (AI) plans to build equity within their industry and succeed.
A study organized by Investor Relations Global Inc. (IRG) showed how technology perspectives should work for businesses and industries’ framework.
“To get into AI and stay there, businesses must draw up an AI plan for the long term that clearly outlines their value proposition, opportunities to be tapped, and services’ profitability to be gained that will end up building market equity within their industry category in fulfillment of an enterprise’s vision,” said IRG chair Lito Buñag.
He said companies should look into the AI infrastructure of human and machine learning resources within the digital transformation (DX) framework.
The framework should be supportive of AI end-to-end development from research and data storage, management and generative AI deployment to eventual transmission and application to industry through hardware, software and network resources, he said.
“We must utilize AI in reaching out to markets through data monitoring of their predictive wants and behavior, synchronization with customers’ diverse cultures [from market to corporate and government cultures] and experiences,” Buñag said.
He said AI is molding cultures anew through tools like language translation, analyzing customers’ perceptions and opinions as they relate to behavior. With AI algorithms providing opportunities to appropriately assess and analyze data amassed and stored, writing scripts could be customized to appeal to particular cultures or mindsets.
“At IRG, one of our key focal points is stakeholder relations, aside from investor and public relations; as such, we believe three main stakeholder cultures that AI plays an important role include the market, the corporate, and the government cultures,” said Buñag.
The market culture includes retail, consumerism, AI tools, e-commerce and inclusion advocacy while under the corporate culture are finance/capital, capex, investments, AI-DX infrastructure and data centers. Government culture includes natural resources, public infrastructure, legislative policies, public education, healthcare ecosystems and national digital transformation programs, he said.