Glowing digital brain with your hand. Artificial intelligence and the future concept. 3D Rendering
Palantir and C3.ai are two examples of companies that have demonstrated the potential for high-level sales of AI technology. These companies are fast-growing and command large market capitals.
But selling AI technology is challenging. Customers often desire customized solutions that are based upon their specific data sets. Adoption is also a problem. It is a fact that most AI projects do not reach beyond the proof of concept phase.
Let’s take a look at few ways you can sell AI technology. Let’s have a look.
It’s Not All About Platforms: AI vendors are proud to boast of their platforms, which can seem to solve any problem. However, this approach is often a mistake. Let’s face the facts; there are top platforms already with robust ecosystems and solid features.
Muddu, founder and CEO of Aisera, stated that businesses should sell solutions to problems. “Customers will only buy platforms if they have multiple solutions and integrate well. Customers don’t have unlimited money available to invest in media.
Sudhakar believes that AI solutions must demonstrate value in 3 to 6 months. There should also be a return on investment within one year.
Insights: AI systems can be confusing. However, this technology has many compelling features for businesses. They can get insights into complex questions.
Take eightfold.ai as an example. Eightfold.ai was founded in 2016. It focuses on AI and talent management.
Kamal Ahluwalia (President of Eightfold.ai) said that many of the problems organizations are trying to solve are daunting because they don’t always have an answer. “There is no second answer to the question of “why can’t we hire the right people” or “what skills should my team be learning so that we are ahead of the pack in a few years.” Data is out there. It’s either not being examined correctly or impossible to apply it thousands upon thousands of times. AI is all about using the data at scale.
Avoid AI-Speak AI is a complex topic. There are many terms, such as machine learning and hidden layers, deep learning, backpropagation, and related words. Even professionals can find it challenging to understand the concepts.
When selling AI, it is crucial to avoid the use of jargon. Thomas Hansen is UiPath’s, Chief Revenue Officer. He stated that rather than explaining AI’s benefits, it’s more effective to share practical steps that can be taken together with customers to achieve desired business results.
The Buyer Persona AI is still very much in its early stages. Many potential buyers are early adopters. This is because they can identify their needs and have an understanding of the market. They are more likely to accept less than 90% of completed software and find ways to fill it, such as custom coding and configuration.
Executives will still be responsible for writing the checks. However, they will continue to rely heavily upon the AI practitioners within their organization.
Omed Habib, Vice President of Marketing for Tonic.ai, stated that the AI buyer persona prefers to use self-service and a hands-on approach. “They don’t need to spoke to a salesperson and would rather sign-up for an account right away. They are curious. They’re self-learners. They are a voracious tinkerer. The companies that have managed to figure this out have created flawless self-service sign-ups for their software. They are well-informed. They have an extensive library of videos for their customers. They offer a forum where other users can share their knowledge. This means that they don’t just teach you how to fish; they also put the best fishers in the same room so they can learn from one another.
Data: Customers are sensitive when it comes to giving their data access to third parties. A firm data policy is essential for an AI vendor.
Sid Mistry (Appen’s Vice President for Marketing) stated, “It is important that sales team members are educated on this feature and understand the compliance or certifications that the organization holds.” “Company information is precious; you should value it and treat it with respect.”