Although most artificial intelligence (AI) applications are considered by many to be “narrow AI” (or, AI that is designed for one task), these applications have evolved dramatically in a short amount of time, and are becoming increasingly common in workplaces around the globe. And as companies (tech companies, especially) begin to explore their expansion options into different regions and develop global expansion strategies, AI will (and should) play a prominent role in the development of these strategies.
Why Include AI as Part of a Global Expansion Strategy?
There’s always a degree of uncertainty that comes when expanding into a new international market, but certain AI applications can help eliminate some of this uncertainly by allowing businesses to work “smarter, not harder;” artificial intelligence can help businesses identify top priorities, decide which challenges should be addressed first, and reveal unforeseen opportunities or hurdles.
For fast, reliable data alone, businesses’ global expansion plans should include AI applications. Many of these intelligent applications streamline everyday processes and functions, for example, by automating accounts, sales, and HR tasks, freeing up employees to focus their attention on more pressing tasks during global expansion. While limited, AI can currently assist with everything from automating manufacturing processes to developing smarter products and services (think: those connected to the Internet of Things) to take advantage of a gap in new markets.
Where is AI for Global Businesses Headed?
These are all long-term benefits of incorporating AI into a global expansion strategy, but it’s equally important to note that there are short-term benefits as well. The business (and the people who work for it) are creating a massive amount of data at all times. That data on its own is relatively meaningless; it’s nothing more than a series of 1s and 0s. But AI provides a way to actually process and utilize that data, diving beneath the surface and uncovering raw insight hidden underneath. Suddenly, decision-makers have thorough data needed to transform products and services (and important day-to-day processes) to capitalize on new market entry.
Case in point: AI can leverage existing data to identify smaller steps and projects that can help lay the groundwork for larger AI priorities in the future by uncovering opportunities to optimize current processes and address skills gaps that are preventing organizations from functioning at their full potential.
How Will You Utilize AI Applications as Part of Your Global Expansion?
Artificial intelligence is here to stay, and will only continue to evolve—especially in regards to its applications in the world of business. For companies concerned about unforeseen pitfalls during global expansion, AI can help mitigate some of these risks. But the best method for navigating uncertainties and risks is to team up with an experienced global expansion partner.
From Albania to Zambia, Germany to Japan, Velocity Global has helped hundreds of companies realize their global expansion goals through its International PEO (Professional Employer Organization) solution. By enabling companies to hire in over 185 countries around the world, International PEO provides the opportunity to establish a presence in new markets in a matter of days, bypassing the headaches and long-term commitments that come with traditional entity establishment. Beyond saving time and cutting costs, International PEO offers live, 24/7 support to international employees—no matter their market.
Ready to expand into new territory? Let’s make it happen.