5 keys for the application of Artificial Intelligence in Spanish companies

• Opentrends’ experts consider data, people and processes as the main elements of a technology whose implementation is becoming easier every day
• AI services in the cloud and the new "off-the-shelf AI" models are consolidated as clear trends for the future

Opentrends, the technology consultancy firm specialized in digital transformation solutions, has published a list with the five main keys for the application of Artificial Intelligence (AI) in Spanish companies. Opentrends’ experts have established these keys both internally (data organization, professional profiles, processes) and externally (technologies, providers, resources, etc.).

According to the report “The Disruptive Potential of Digital Platforms”, while in 1995 the 10 most valuable companies were classic, currently 6 of these companies are digital platforms, including the first 4. “All these companies have achieved their success because they managed to make the most of the value of data”, explains Juan José Giménez, CEO of Opentrends. “They are data-driven companies that use AI, data analytics or machine learning on a daily basis. Faced with this scenario, many CIOs wonder how they can transform their data into business value.”

Opentrends’ experts point out the following 5 keys as priorities to consider in order to apply business intelligence to business processes:

AI can process 4 types of data. For each type, it will be necessary to use different techniques and models: image data (identity verification, object detection in images.), sensor data (predictive maintenance, industrial processes, Smart Cities…), language data (speech-to-text transcription, virtual assistants, sentiment analysis…); and transaction data (product recommendations, personalized prices and promotions, trend detection and demand forecasting...).

In order to implement a successful AI strategy, it will be essential to determine from the beginning the different skills and professionals who will be in charge of managing them: data scientists, trained to handle the mass of the data and create ML algorithms; IT specialists, who create datalakes, break silos and ensure data accessibility; or domain experts, who guarantee that the algorithms add value and that detect the necessary changes to be performed in the different processes. The success of an AI project will depend on people from all three areas working together with a basic understanding of each one of them.

From the above, it can be deduced that the first challenges usually come from the lack of data, or of specialized personnel, or both, which may require a significant initial investment. On the other hand, it will be essential to clearly determine the processes to which AI will be applied, and to set compartmentalized but interdependent sub-projects to deliver results and scale over time as we gain acceptance in the rest of the company.

Nowadays, beyond the definition of data, professional profiles and processes to be released, the technical team of a company does not necessarily have to carry the entire weight of the project. Instead, the most sensible thing is to have a partner fully specialized in AI, who provides a comprehensive and in perspective vision, and who also offers the guarantee of having successfully carried out numerous projects in different sectors. This partner must also provide advice and outsourcing, including “turnkey” projects for certain milestones, in combination with longer-term services such as a data office.

New technologies allow companies to adopt “off-the-shelf” models, which make available to IT teams well trained, powerful algorithms through pay-per-use services. This represents a unique opportunity for those who are just starting out, since they can be used in well standardized, specific cases, thus significantly reducing development and upload to production time. In this case, it is interesting to count on a consultancy firm that provides specialization in modular and efficient architectures based on PaaS and serverless components, taking advantage of the potential of public clouds such as AWS.

“In short”, concludes Juanjo Giménez, “we clearly see that both those 'classic' companies that continue to succeed and the new digital platforms opt for extracting value from data, and that AI has become an excellent ally. Current technologies already allow projects of this type to be adopted in companies of all types and sizes, without the need for large investments, and guided by specialized providers”.

With more than 18 years in the market, Opentrends joins together talent, technology, creativity and innovation to put companies on the path of digital transformation through disruptive business models and the creation of sustainable competitive advantages. With a team of over 350 professionals in Barcelona, ​​Madrid, India and Silicon Valley, Opentrends has clients of the likes of GB Foods, Generalitat de Catalunya, Madrid Digital, Universitat Oberta de Catalunya or the World Tourism Organization, among others.