by; Jo Ann M Stadtmueller, Sr. Director, Marketing Read the original post here.
AI promises to be one of the most disruptive and innovative technologies currently being vetted by organizations of all sizes. “Between now and 2030, it will create an estimated $13 trillion of GDP growth”, forecasts McKinsey Consultants. AI is a major wave utilizing/leveraging machine learning (ML) and specifically deep learning, to create automation capabilities. These automation capabilities are then applied into the entire business ecosystem, within an organization. It’s not just an evolution, it’s a pretty big change that can provide businesses with profound new ways to change data into the outcomes necessary to advance to the next level.
So how do you start to recognize where AI fits in your organization? Start by asking some questions first.
Who will identify the need for AI?
Does my organization currently house data?
Do I have the necessary data?
Who can supply the data?
Can AI solve a problem such as: customer engagement churn rates? solve efficiency problems? create better outcomes? can it help to accelerate my company’s growth?
The list of questions can go on and on but the central emphasis is a place to get started. AI has tons of potential for your business. It’s important to do your due diligence but getting stuck in the analysis phase will hold back your organization’s potential to accelerate.
Let’s take a closer look at some of these questions to help recognize where an AI project or two can get started.
Who will identify the need for AI? This question can be asked and answered internally by a number of people within your organization. Executive teams, IT Professionals, AI Professionals and Business Unit individuals who are experts in their spaces and have a high level view of AI can identify and focus in on tackling specific issues within their respective divisions.
Does my organization currently house data? Most organizations of all sizes have some type of data. Most businesses can answer yes. From email lists, to marketing KPIs, website stats, and yearly ROIs, budgets and personal stats, organizations have been sitting on a gold mine of data (and paying to house it) for quite some time. Now is the prime time to put this data to work. To create value from that data AI is applied to make it contextually relevant and iterative. Systems get smarter with more data analyzed and become increasingly skillful and autonomous as they go.
Do I have the necessary data? The key is to discuss and recognize the value of this data for your specific department or overall business unit objectives. All of the AI stakeholders can help to identify necessary data. AI involves being able to train a model on data. If you don’t have the data, then AI will not be effective. So, start by focusing on collecting this data for future AI projects that will solve your unit’s objectives.
Who can supply the data? Is your data and the data sources suitable for AI? Engaging with your Data Analyst, Data Engineer, IT professionals or Enterprise AI platform provider can help you identify how to get your data working for you.
Can AI solve a problem? In most cases your ML Engineer, Data Engineer and Data Analyst will be able to explain exactly how they reach certain algorithmic-based decisions. But you will need to decide if the results help solve the identified use case. If it makes a positive impact on your organization, then you can answer yes to this question and feel positive about implementing future AI projects.
Starting with smaller jumpstart programs and accelerators will allow you to get started quickly. Working with all the AI Stakeholders will enable your organization to become an AI company.