Where AI makes sense for businesses
Artificial Intelligence (AI) can quickly and cost-effectively improve your processes and products. The latest developments are advancing so fast that it's difficult for companies to keep track of the many possibilities. Here's a guide to help.
As one of the leading agencies for digital products in Switzerland, we naturally follow the development of new AI models closely and have now acquired a broad knowledge of new technologies for companies.
We focus on using AI to eliminate inefficiencies, speed up processes, and develop high-quality products at the same time. From AI in e-commerce to AI-supported price optimization, our experience has shown how quickly and efficiently some problems in digital product development can be solved. Often, even we are surprised at how good the results are.
AI speeds up processes enormously
You can use AI by adopting existing models, shaping them, or creating them from scratch. It's a question of resources. The good news is that in most cases you don't need to create your own AI. In the following areas of product development, it is fairly easy to simply speed up processes with existing models:
1
Multilingualism
Translating and developing an app in multiple languages is faster than ever. However, to sound 100% human, we still recommend having the machine-translated content reviewed by a real human.
2
Customer service
Automate your support. We use natural language processing to enable AI to understand, classify, prioritize, and respond to your customer queries.
3
Revenue forecasts
Analyzing historical sales data and trends to predict sales and revenue helps you make better decisions regarding inventory, resource planning, etc.
4
Personalization
By analyzing user data and behavior, we can offer a personalized user experience. The recommendations are based on the products added by the users and their usage behavior.
5
Price optimization
AI models help analyze market trends, historical sales data, and competitor pricing to optimize product pricing for maximum sales and profits.
6
Product descriptions
By extracting information from images, attaching attributes, and automating the input of product data, you can create good product descriptions very quickly.
7
Search Engine Optimization (SEO)
Through advanced algorithms and machine learning, AI can analyze large amounts of data to identify relevant keywords, trends, and search patterns. With these insights, you can optimize content and improve your search engine rankings.
8
Image processing
AI can generate high-quality images of your products based on a product description. You can also upscale images or remove backgrounds. All you need is good prompting.
Develop your own product
Are you thinking about realizing your product idea with the help of AI? Here are my answers to some questions you may have.
How much better can AI make a product?
For most complex, repetitive tasks, the use of AI brings significant efficiency gains in the mid-double-digit percentage range. In areas with a lot of interaction, AI can support humans perfectly. Less complex, repetitive tasks can be completely automated.
The results are generally better than human input. However, just because AI has great potential does not automatically mean that it is the only suitable solution for your product.
What does product development with AI cost?
The implementation of AI in your product depends on the industry in which your company operates, the level of compliance required and the goal of the project. Complex tasks require more implementation effort, higher accuracy requires more resources, and more comprehensive compliance requires more manual work.
Good to know: Most of the work is done at the start of product development, after which there are only minor maintenance costs.
How long does product development with AI take?
We have had projects that took us several months and others that took us just a few weeks. How long product development takes depends on your specific needs and the amount of data already available.
How does the collaboration with an agency work?
These are the 5 phases of what collaboration with Mindnow could look like for a project involving the use of AI:
1
Discovery
In the 1st phase, we identify your goals for the project. We gather information about your data sources, the types of data you have, and how you use this data. In this phase, we already investigate potential AI use cases to improve your current processes.
2
Feasibility study
We identify use cases for the implementation of AI, because not every problem can automatically be best solved with it. Sometimes a purely mathematical approach is more suitable. We transparently assess the potential costs, benefits, and risks of the proposed solutions.
3
Prototype
Once the feasibility study has been completed, we evaluate whether AI is suitable for your use case. We do this by creating several prototypes with and without Gen AI and obtaining direct user feedback. If AI has improved the user experience, we define the goals of the model. We then select the appropriate tools and technologies and test the solution with sample data. If necessary, we refine to the desired level of accuracy.
4
Deployment
If it turns out during prototype testing that AI is the right choice, we provide an infrastructure suitable for large GPUs. We can host your prototype on your infrastructure or our own. We ensure that the prototype is integrated into your existing systems via a straightforward API. We can support your team with all the necessary training to ensure you can use the tool effectively.
5
Monitoring and evaluation
Finally, we monitor the performance of your product over time and evaluate its effectiveness in achieving your goals. We make any necessary adjustments to ensure that the product continues to benefit your business.
We work closely with our customers throughout the entire development process and never lose sight of their specific needs and goals.
Do you need help? We offer our services to small businesses, start-ups, and large companies. Because we believe that companies of all sizes can benefit from implementing AI in their processes and products.
