AI Edge to help Startups Outpace Industry Giants in Innovation

With Al, there is an efficient product development where the design and testing segments are compressed and products are introduced to the market faster to suit the dynamic consumer trends

- VINOD K SINGH

AI is providing a level playing field for companies that are new in the market, enabling them to develop innovative products and services at a faster rate than what is offered by established players in the industry. Corporates and bigger organisations have to juggle between legacy processes and regulations but emerging companies can integrate AI in their operations seamlessly. The speed of their operations allows them to redesign new ways of conducting businesses, optimising the workflows at the same time applying fluid strategies to keep customers hyper engaged. Particularly in areas such as fintech and SaaS, AI fuels effective customer interactions, eases adjustment of business strategies and boosts innovations which give them competitive advantage.

Aside from regulatory factors, big concerns include reputation as well. If something goes wrong with a new idea or a technique, new companies can take risks and fail and then develop again, however loyal organisations do not have that luxury due to how the world views them. This approach is often perceived as too risky due to the effect it may have on the brand. On the contrary, new companies have fewer restrictions, need not care if they do anything that may upset proverbial apple carts, and freely create new ideas.