Are you doing all you can to ensure that your competitive intelligence efforts efficiently uncover insights that lead to growth, profitability, and a maintained advantage for your company? If you have not added artificial intelligence to your competitive intelligence tool kit, then the answer is, no.
Competitive intelligence tasks include constantly providing new, actionable information to update and support corporate strategy. To be actionable, the data that traditional search and reporting methods return must have relevant meaning. You can spend a lot of time milling and manipulating the data to extract substance. Or, you can begin your work with artificial intelligence at your fingertips, and derive meaning a lot faster.
Artificial intelligence accelerates the process of gathering data and putting it to work. More specifically, machine learning, as an application of artificial intelligence, uses algorithms to recognize patterns and trends to learn on its own. Artificial intelligence unlocks insight into the movement of markets and players in those markets. It quickly goes from information gathering to automated analysis.
Being first-to-market with a development is critical in any fast-paced industry. The information gathering and analysis process can also help you identify competitive gaps, or white space. InnovationQ Plus bases your search results on concepts to spot innovation trends, opportunities, and risks with greater reliability.
A comprehensive competitive intelligence tool must both mine and analyze information. IEEE and IP.com’s tool begins and ends your searches with meaning. This gives you a head start in understanding the competitive landscape, predicting your rivals’ movements, and revealing market opportunities.
For more information on how InnovationQ Plus can aid in your competitive intelligence efforts, read our powerpoint on interpreting the competitive landscape with artificial intelligence.