Only 14% Of Brands Are Ready For AI: Here’s How To Prepare

November 22, 2023
Bob Hutchins
CMO

Artificial intelligence (AI) is not new, but its relevance and importance has grown rapidly in the past couple of years. With models like ChatGPT, it’s impossible for businesses to ignore AI, and most companies realize the technology is going to change the landscape of marketing, online communication, algorithms, and more.

Despite this awareness, most businesses aren’t prepared for the transition to AI, a transition that is already happening. 

An article from Fast Company looked into the statistics of company preparedness for AI (or lack thereof). But, what does this mean for your business? 

To help our clients further understand these statistics and what they mean, EKOM has reviewed the data and offers expert guidance on how to prepare an AI strategy for your company.

What The AI Statistics Say

While many companies understand the need and feel the pressure to create an AI strategy, doing so can take time, creativity, and money, so it’s easy to put it off. Even for a business with a strategy, it might not feel comprehensive enough for the big changes coming down the pipeline. 

A survey from Cisco (Cisco’s AI Readiness Index), was sent to 8,000 business leaders in companies that have over 500 employees. The survey considered approximately 30 markets. 

  • 97% of survey respondents feel increased urgency in their businesses to use AI.
  • Half of the participants felt there would be negative consequences.
  • Despite this sentiment, only 14% of respondents felt they were prepared to transition to AI. 

How To Be One Of The Prepared Companies

While creating an AI strategy isn’t a one-size-fits-all process, there are still some general steps you can take to become a prepared company.

According to Fast Company, “Just 3 in 10 respondents report that they have comprehensive AI policies and protocols in place.” This statistic reveals one of the best places your company can start to plan.

Begin by identifying the types of AI that could be most beneficial to your business. For example, any company with a significant e-commerce presence can benefit from letting a large language model (LLM) learn its data to better craft targeted copy. EKOM integrates structured, accurate, on-brand product data (at scale) into your website.

From there, your company can write specific policies and protocols regarding when AI should be used and when to review it. 

While the survey also found that around 95% of companies have some sort of AI strategy, most aren’t ready to handle any risks or put any parameters in place to ensure success. 

Make EKOM Part Of Your AI Strategy

If you want to be one of the top companies preparing for the transition to AI, it’s critical to develop a strategy now. With EKOM, you can utilize a cutting-edge AI that is trained on your brand’s assets and ready to grow your sales through organic traffic. In short:

We use intelligence to automate your brand voice at scale to help you sell more.

As an e-commerce focused artificial intelligence, EKOM integrates the best practices of search engine optimization, but does much more. EKOM continually learns about your unique brand and products to output well-crafted digital assets, such as descriptions, titles, and more. These assets can be imported directly into your product information management (PIM) software, whether running a monolithic or composable tech stack. 

Learn more about how EKOM can become an integral part of your AI strategy by scheduling a walkthrough. 

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