How Can A Mature AI Build A Strategy To Scale To The Highest Payback?
Now the time has come for the industry to look at Artificial Intelligence (AI) from a fresh point of view. Also, companies have to rethink how AI can help their business in the post-COVID-19 era. Today, most companies are planning to accelerate the usage of AI to help them emerge stronger in the post-pandemic future. However, businesses that do not have a clear AI framework or strategy will fall short of their goal. According to a research study, 95% of companies currently implementing AI agree that AI strategy is one of the most vital areas to scale. In this blog, we will discuss how Artificial Intelligence (AI) can help businesses emerge stronger in the post-COVID-19 era.
Advanced AI Strategies Deliver The Highest Payback
Artificial Intelligence (AI) strategy can set and communicate a vision that is connected to a company's strategic goals. Businesses that are excellent in their AI maturity and strategy bring up a payback of five times return on investment.
In order to scale AI initiatives, there is a need to develop an effective AI strategy that focuses on four critical areas:
- Prioritize your investments
- Define your operating model
- Develop the right talent and culture
- Ensure digital ethics and adopt greater data governance practices
Prioritize Your Investments
An excellent AI strategy should align and confirm technical investments to accelerate your organizational goals. This will help you improve customer experience, optimize costs, create talent agility, and reinvent products or services. Once you align your AI strategy to business goals, you can start to recognize the use cases that will power your priorities. These could be about making better products and services or developing business functions more intelligent.
Define Your Operating Model To Deliver AI At Scale
Developing a right-sized Center of Excellence (COE) is a critical element of a scalable AI strategy and a centralized ability to accelerate over time. It also drives measurable return on investment. However, just over one-quarter of companies are using this as a lever.
Develop The Right Talent And Culture
Creating an Artificial Intelligence-driven culture is crucial to enabling new experiences, efficiencies, and innovations. But to achieve those results, the people module needs to be middle to your AI strategy. Recruiting and training users in AI facilitates a robust use of technologies and techniques deeply embedded within business processes that control the power of AI at the user level.
Ensure Digital Ethics And Adopt Greater Data Governance Practices
AI brings not only unmatched opportunities to businesses but also an incredible responsibility. Digital ethics involves designing, developing, implementing, and operating digital technologies with a good intention not to harm. As a result, it allows organizations to create trust and scale AI with confidence.
With ethical AI, people can shape critical objectives and establish their governance strategy to create systems enabling AI and help drive business results.
Conclusion
We hope you have understood how a mature AI builds a strategy to scale. A mature AI strategy at scale delivers unlimited possibilities. From supply chains to improved customer engagement, a mature AI strategy can drive results at scale. As organizations mature their AI strategy, they can improve their operational resiliency, find greater value, and even emerge stronger from the Covid-19 pandemic.
