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Why utilizing AI is key to unlocking your business’s hidden potential and maintaining a competitive edge

The future is now: Baker Tilly helps you adopt artificial intelligence into any sector, business or industry
| Photo via iStock

You’re a bakery owner with multiple locations across Vancouver and need a distinct leg up on a sea of competitors. What do you do? Simply make more scones or attempt to find better brands of coffee?

How about using artificial intelligence (A.I.) to track weather patterns to predict customer expectations on a warm day or, conversely, a cold day?

It may sound like a plot from a futuristic movie, but it’s not – this bakery example is an actual case study of a current Baker Tilly client.

The future is now, and the expert team at Baker Tilly can show you precisely how to adopt A.I. technology to scale your business, forecast future trends and keep on top of day-to-day operations.

“Now is as good a time as any to start thinking about what A.I. means to your business – whether you’re for this technology or not, it’s here,” explains Baker Tilly’s Deepak Upadhyaya, partner, digital technology and risk advisory. “The best thing to do is become proactive and try to figure out how your business can take advantage of this now.”

In its simplest terms, A.I. is a machine that reacts and creates inferences similar to what humans can make or do – for context, think of Siri on your iPhone or Amazon’s Alexa.

Picture it as the most effective dictionary, planner or number cruncher wrapped into one piece of technology that exponentially cuts down overhead.

This technology is versatile and applicable to any sector, business or job type due to the sheer breadth of data it can pull from. For example, A.I. can figure out revenue streams and models, how to increase business or sort through inventory, among other tasks.

Due to its many applications, technological powerhouses, including Apple, Microsoft, Bing, Amazon, and more, are already embedding these A.I. engines into their operations and services.

Baker Tilly helps clients sort through the hows and whys of A.I., a process that begins with first understanding the technology’s scope and explaining what it means to embed A.I. safely and responsibly.

From there, Upadhyaya’s team helps clients correlate publicly available data in specific areas of the company through a process that’s both cost effective and practical.

For tech companies already looking to embed A.I. in their products, Baker Tilly offers tests and audits of the A.I. engine itself to ensure the information is reliable, unbiased and trustworthy, giving those tech clients added assurance.

“Even in the last year, the progression of A.I. has been phenomenal,” Upadhyaya says. “If you’re not going to get on board right now, you’re just going to get overtaken or your competitors are going to start using it. This is going to impact people in everyday life and everyone across all different industries.”

To learn more about how you can utilize A.I. as a driving force for your business, attend the ‘Leveraging AI and ML to drive value in your organization’ webinar taking place May 17. Register now.