Summary
BCD intends to be one of the most renowned companies in the U.S. and subsequently expand its wings to receive global recognition. The company plans to venture into the Artificial Intelligence (AI) business, offering different opportunities to the target market. BCD aims at embracing the best services in the present technological world, hence becoming the consumer’s choice in the present and the future. The organization projects at competing favorably with other reputable companies globally in the artificial intelligence sector. Ultimately, research indicates that the number of AI users is likely to increase in the coming decades. Therefore, there is a need to put authentic and firm strategies which can ensure that the company is on the list of the AI corporations which will benefit now and in the coming times.
Mission and Objectives
The mission of BCD technology company is that “we extend a hand of help to people and business to embrace success and subsequently achieve global sustainable growth through commitment to excellence, technical expertise, and personal dedication.”
As mentioned in the mission statement, one of our objectives is to help people and their businesses, from small to medium, and large enterprises, succeed and attain justifiable growth. This goal can be achieved by a commitment to quality and excellence, technical expertise, and personal dedication. Enhancing ease of accessibility and enjoyability is the other objective of BCD company. The company will ensure that its services are flexible and easy to use, avoiding confusion among the users, hence obtaining customer satisfaction and loyalty.
Company and Industry
The business was incorporated as a public company on 25th October 2020 under the U.S. laws and regulations, having its registered address at Allentown, Pennsylvania, America. Notably, the incorporation of BCD corporation was initiated by seven group members. Publicly, the commercial website address of the company is www.bcdcompany.com. BCD is projected towards giving people and different business organizations throughout the U.S. a critical experience which satisfies their current needs.
Significantly, for any company to start and prosper, finances are part of the vital pillars. The company has $50,000 right now, hence experiencing a deficit of $100,000 to manage all its internal and external needs. According to Laakkonen (2017), an excellent business plan dictates the success of a corporate organization. In other words, it is the business plan which directs the route an association can take in the present competitive market. BCD is within the technology industry, striving to provide the best services, incomparable, and of the highest quality in the technological world. Moreover, Wahl et al. (2018) opine that Artificial Intelligence service needs are expected to increase in the coming years. Thus, BCD corporation’s desire to venture into the AI and technology industry, in general, is an excellent and applaudable decision.
Services
The first service BCD company will offer is machine learning that can autonomously find solutions to different problems through database pattern recognition. The second service is natural language processing, which is the potential of a strategy to translate specific information into different languages, such as English to Japanese, Spanish, Germanic, and Chinese, among many other global languages. The company will equally offer computer vision services, which is the systems’ ability to distill information that is actionable from product images. Lastly, BCD will provide blockchain services, allowing the consumer to embrace cloud-computing solutions to develop, host, and subsequently adapt their unique blockchain smart contracts, applications, and other vital functions. At the same time, the cloud-based information technology partner manages them.
Market and Competition
BCD company targets two distinct consumers, namely: business organizations and direct consumers or individuals. From the small-to-medium-enterprises to big organizations, BCD will develop and maintain websites and generally manage their technological aspects. Independently, the corporation will ensure that it offers excellent phone and laptop applications apart from video gaming services that are enticing and appealing for public viewing. Holistically, the company will provide general and individual online technological experiences which are remarkable, hence attracting the specific target market.
Besides, BCD has competitors, including Unicsoft, Talentica Software, DataRoot Labs, Day One Technologies, Intellias, Miquido, Digital Scientists, and Neoteric. The mentioned existing competitors are a reflective mirror, showing BCD company the exact areas to adjust to being more productive. According to Galloway et al. (2019), competitors are prudent to a business because they help the specific business enterprise identify their unique and distinctive traits which attract target customers. Equally, contestants help the organization harness its attributes, market the business diligently, and attract new customers (Gast et al., 2019). Thus, the BCD competitors will challenge the company positively, hence achieving the expectations of the consumer.
Marketing Strategy
The first marketing strategy for BCD is educating and informing. Arguably, artificial intelligence is a technology which is emerging, hence misunderstood highly across the business world. Thus, educating the public regarding AI works is a critical outline to attracting customers having knowledge on the topic, making them develop a sense of belongingness to the company, a gateway to consumer loyalty. The second marketing strategy which BCD enterprise will use is contextualization by industry. Notably, it is prudent to note that artificial intelligence technology applications are often industry unique. In other words, every business company requires a specific AI system. Therefore, marketing BCD artificial intelligence technology should be equally industry-specific. For instance, when BCD company aims the financial sector, it must communicate and show the relevant stakeholders how machine learning can help address financial audiences’ specific pain points. Generally, advertisement of the different BCD services’ effectiveness to specific functionality can heavily help the company traverse in the business market.
Design and Development Plan
Each of the specified services which BCD will offer has a critical design. A significant development plan can ensure that the company embraces prosperity in the AI and technology industry. For instance, the search to insight feature will be enhanced by the natural language processing (NLP). The NLP or the natural language query (NLQ) will allow people or consumers to search and effectively analyze the different business organizations’ data by asking questions, just like a search engine. The query language is straightforward, in that there is no knowledge of diverse query languages like Python, or Structured Query Language (SQL) is required.
Also, the smart insights feature will be designed to ensure data visualization and predictions among the users without a manual effort. Arguably, it means that customers who have data analysis questions can easily find responses since it only requires the users to click once and have information regarding the top contributors behind variances and values. Moreover, sophisticated algorithms will run on the fly, suggesting that there is additional visualization that an individual needs to add to the data story, followed by contexts and explanations generated through the natural language.
Overall Schedule
There are several goals which BCD company intends to achieve within the specified periods. The company leadership and management board will ensure that the BCD embrace success in the consumer market. The organization will embrace each goal strep-by-step until it attains all of them altogether. The following are the dates and specific objectives the company intends to achieve:
Critical Risks and Problems
The first risk is BCD not clicking to other AI companies’ competitive levels, including Diffco, Neoteric, Digital Scientists, and Unicsoft. Notably, considering that artificial intelligence is an emerging system, the companies are making full use of the present opportunity, attracting more customers, and expanding their financial muscles (Gast, 2019). It will be challenging to compete favorably with these companies considering that they are already stable in the market. Thus, BCD is an upcoming company, prone to face stiff competition from organizations that have already been in the market for a while and taken deep roots in service delivery.
Another risk is that artificial intelligence might become too powerful, facing different injunctions. For instance, other games which are considered hazardous and unethical are likely to be restricted, reducing the BCD company’s market value. Games which involve shooting are gaining momentum in the world among both the elderly and the young. Presently, there are possibilities that, despite such games gaining tremendous momentum, they might be subject to different restrictions, including banned from the public. Connectedly, AI might become too influential, hence facing abolition, a considerable risk.
Financial Projections and Requirements
The existing amount at the moment to start embrace organization service delivery is $50,000. The company aims to raise $100,000 more to ensure effectiveness. The operational systems development is the one which will take a more considerable amount because of the weight it has on the success of the company. According to Bazmohammadi et al. (2018), operation management is worth a business entity since it effectively helps control and manage services, goods, and people. Connectedly, BCD company, must dwell in the management of internal and external operations to foster efficiency.
Below is a table explanation regarding how the company intends to use the raised amount:
Conclusion
BCD is an emerging artificial intelligence company that aims at developing corporate and personal websites, phone, and laptop applications, including video games. The organization seeks to attract customers from individual to organizational level. Moreover, the corporation aims at developing its systems to accommodate blockchain, big data science, natural language processing, and machine learning. The company is optimistic about embracing success due to the concrete foundation which it has put after analyzing and comprehending that the AI demand. In the U.S. and the world, the AI need surpasses the supply, and is even projected to increase with time. Therefore, it is worth noting that BCD establishment is a profitable deal venture which investors cannot regret at all.
References
Bazmohammadi, N., Tahsiri, A., Anvari-Moghaddam, A., & Guerrero, J. M. (2018). Optimal operation management of a regional network of microgrids based on chance-constrained model predictive control. IET Generation, Transmission & Distribution, 12(15), 3772-3779.
Galloway, T. L., Kuhn, K. M., & Collins-Williams, M. (2019). Competitors as advisors: Peer assistance among small business entrepreneurs. Long Range Planning, 1-46. Web.
Gast, J., Gundolf, K., Harms, R., & Collado, E. M. (2019). Knowledge management and coopetition: How do cooperating competitors balance the needs to share and protect their knowledge? Industrial Marketing Management, 77, 65-74. Web.
Laakkonen, H. (2017). Developing a successful business plan: Berry beverage bicycle vending cart. Web.
Wahl, B., Cossy-Gantner, A., Germann, S., & Schwalbe, N. R. (2018). Artificial intelligence (AI) and global health: How can AI contribute to health in resource-poor settings? BMJ Global Health, 3(4), 1-7. Web.