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Welcome to July AI at EdgeRed - Are you ready for AI?

EdgeRed x July AI

July is here.. it’s a new Financial Year, and we are excited to dedicate this month to all things AI at EdgeRed.


Welcome to "July AI"!


Throughout this month, we’ll be sharing a range of exciting AI content, including:

  • A sneak peek at our newest team member, Erica

  • Insights on how we’ve automated the creation of Google Slides

  • Riveting white papers on AI and LLMs

  • Fascinating image recognition techniques for the retail planning space

  • and maybe... a music video! 🎶

 

So, what is AI?


Artificial Intelligence (AI) is the buzzword that's been zipping across every industry, sparking curiosity and.. the fear of missing out.


But what is it, really? At its core, AI refers to the simulation of human intelligence by machines. It's about creating systems that can learn, adapt, and perform tasks that would usually require human intellect, such as visual perception, speech recognition, and decision-making. Think of it as a brilliant brainchild of computing, where machines can analyse data, spot patterns, and make judgements with minimal human intervention.


How do you know if you’re ready for AI?


Assess your data ecosystem: AI thrives on data. To implement AI effectively, ensure you have a rich, clean, and well-structured dataset. Data is the fuel that powers AI algorithms, and as cliché as it sounds, the adage “garbage in, garbage out” remains incredibly relevant in the AI world.


Identify business use cases: Determine the areas of your business where AI can add the most value. We are a strong believer in prioritising use cases which add value to your business, whether that is revenue-generating by enhancing customer interactions or cost savings through automating repetitive tasks.


Evaluate technical readiness: Ensure your team has the necessary skills, data literacy and commercial knowledge to implement and maintain AI solutions that suit your business needs. This might involve upskilling current employees or hiring new talent with AI expertise.


Infrastructure: Assess whether your current IT infrastructure can support AI applications. This includes having the necessary computational power and storage capabilities.


Ready? Let’s get started!


Pilot projects: Start with small pilot projects to test the waters. These projects will help you understand the practical challenges of implementing AI in your business and validate assumptions of business value. Use the pilot projects to address gaps and refine your approach before scaling up.


Iterative learning: AI is an evolving field. Stay updated with the latest trends, tools, and best practices to continually enhance your AI capabilities... and of course, you can always subscribe to our newsletter to stay up-to-date with everything we’re doing at EdgeRed!


Stay tuned for more AI insights


We hope this introduction to AI has sparked your interest. Throughout July AI, we’ll be diving deeper into these topics and showcasing how we’ve used AI in various parts of our business. Stay tuned for our next post where we introduce Erica, our AI-powered internal assistant.


Frequently Asked Questions (FAQs)

What is Artificial Intelligence (AI)?

Artificial Intelligence, or AI, is a branch of computer science that aims to create machines capable of intelligent behaviour. It's about harnessing computing power to perform tasks that would typically require human cognition.

How do I know if my business is ready for AI?

Can EdgeRed help implement AI in my business?


 

This blog is written by Mon, with assistance from Erica.


Interested in joining our team?


Applications for FY25 Graduates are now open! We are looking for Graduate Data Analysts and Graduate Data Engineers to join our team. Applications close 31st July 2024.


About EdgeRed

​EdgeRed is an Australian boutique consultancy specialising in data and analytics. We draw value and insights through data science and artificial intelligence to help companies make faster and smarter decisions.


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