 Erica McDonald |
2024 has certainly been all artificial intelligence all the time, as adopting AI has become synonymous with staying ahead of the curve.
However, effectively communicating the benefits of AI to prospects today requires more than simply adding AI to your messaging and marketing efforts. It requires a strategic approach that highlights your AI capabilities and distinguishes your solutions so that you don’t become another me-too AI tech provider.
So, what should tech companies consider when flexing their latest AI solutions and services? Remember that AI isn’t new. While we’ve heard much about AI this past year, generative AI has been the real star. The odds are that if you’ve been using machine learning tied to your solutions, you’ve likely already been using some form of AI. That said, generative AI has been grouped in the more significant AI bucket and should be clarified in your communications.
While there are many considerations when communicating AI benefits to enterprise prospects and what brands should consider, the three below are essential:
Tailoring solutions to customer pain points
The first step in effectively communicating AI benefits to prospects is understanding their pain points and providing solutions and verifiable results for addressing their business challenges. This requires a deep understanding of the industry landscape, business objectives and operational inefficiencies that potential clients face. And there are great ways to achieve this.
For example, a recent article on EY’s website cited that 83 percent of organizations now view their supply chains and operations as a strategic advantage. It should then come as no surprise that AI-powered supply chain optimization solutions have emerged as a game-changer for enterprises seeking to streamline operations and reduce costs.
| This article is featured in O'Dwyer's Nov. Technology PR Magazine |
In a case study featured on its website, IBM highlights how its AI-powered supply chain optimization solution helped a global retailer reduce inventory holding costs by 20 percent while improving order fulfillment rates by 30 percent. By understanding the retailer’s pain points, such as inventory management and demand forecasting, IBM tailored its solutions and results, thereby demonstrating the value of its AI solution in addressing specific business challenges.
This is particularly important when you look at the growth rate of AI and implementation timelines of about five years. For businesses to act now and invest in AI solutions, they must know that your solution/service works and has a track record of success. This brings me to my next point: building trust through AI.
Building trust through transparency and ethical practices
With data being the backbone of AI, in an era marked by growing concerns about data privacy, regulation and algorithmic bias, building trust with an AI service or solution is essential. To do this, transparency in your communications about your organization’s data usage, algorithmic processes and ethical practices is key to fostering trust and credibility.
When speaking with prospects, you may also consider bringing in your Chief Privacy or Chief Data Officer to reinforce your company’s commitment to data compliance and ethical data usage and share the steps your company takes to remain at the forefront of these practices and changes.
As companies consider new AI solutions, they’re paying close attention to this as they can’t afford to partner with businesses that don’t have strong ethical and compliant data practices at the forefront of their AI strategies.
This will only grow in importance over time as they grow and innovate, which brings me to my final point: scalability and long-term value.
Demonstrating scalability and long-term value
As enterprises look at AI solutions, they assess whether AI capabilities can scale and evolve as their business needs change. Communicating your AI solutions’ scalability and long-term value is crucial for gaining buy-in from enterprise prospects and securing lasting partnerships.
They must understand how you would be an excellent partner to them and their clients as they grow their business—be it flexible integrations, enhanced insights, etc.—understanding your value, reach, partnership strategy, innovation plans and focus will be essential to demonstrate where and how your AI solutions and services will support their near and long-term goals.
Effectively communicating your business’s AI value is critical to cut through the hype since so many companies claim to be AI solutions providers. Leading with the business challenges you help customers solve demonstrates your understanding of the AI ecosystem and showcases your capabilities to scale alongside your customer’s business as it grows. This approach will prove advantageous when distinguishing your AI solutions and services from others in your space.
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Erica McDonald is a Partner in FINN Partners’ Technology Practice.
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