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    Winning AI Strategy With Executives

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    jaya
    Executives should establish a center of excellence team to implement AI initiatives that brings technical and business skills. They should identify high potential business processes for AI to add value, select a few promising AI projects, and commit resources to deliver working projects, not just pilots. Successful companies see over 5% of enterprise value from AI, through new markets and growth.

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    Winning AI Strategy With Executives

    Uploaded by

    jaya
    144 views4 pages
    Executives should establish a center of excellence team to implement AI initiatives that brings technical and business skills. They should identify high potential business processes for AI to add value, select a few promising AI projects, and commit resources to deliver working projects, not just pilots. Successful companies see over 5% of enterprise value from AI, through new markets and growth.

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    Winning AI strategy with Executives

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    Executives should establish a center of excellence team to implement AI initiatives that brings technical and business skills. They should identify high potential business processes for AI to add value, select a few promising AI projects, and commit resources to deliver working projects, not just pilots. Successful companies see over 5% of enterprise value from AI, through new markets and growth.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    144 views4 pages

    Winning AI Strategy With Executives

    Uploaded by

    jaya
    Executives should establish a center of excellence team to implement AI initiatives that brings technical and business skills. They should identify high potential business processes for AI to add value, select a few promising AI projects, and commit resources to deliver working projects, not just pilots. Successful companies see over 5% of enterprise value from AI, through new markets and growth.

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    Winning AI strategy with Executives

    Analysing top performers reveals the strong trajectory with AI for growth.
    Establish a centre of excellence

     Implementing successful AI initiatives requires a multi-role team that


    can bring the required technical skills and be business savvy to projects.
     The size and number of the teams required depends on the organization and
    the scope of its AI initiatives.
     Executives should adjust the number of teams and their composition as
    projects emerge.

    Set business priorities and identify opportunities


     Enterprise executives should identify the business processes where AI can
    add value.
     Ensure that those processes are already in good shape, determine the
    potential returns that AI could deliver in each area.
     Designate three to five areas with the highest potential returns as top
    priorities.
     Executives could develop a use case ladder.
     Successful organizations also find ways to support AI initiatives that don't
    just solve existing challenges but capitalize on the technology in its many
    forms -- machine learning, deep learning, natural language processing,
    robotics and automation software -- to enter new markets, create new
    products and services, and drive economic growth.

    Select and commit to a limited number of projects


     Executives must select several promising AI projects and commit to
    delivering minimally viable projects -- not just pilots or proofs of concept.

    Assign executive-level project sponsors


    Determine and fill any skills gaps
    Define how AI fits into your business strategy
    Deal with your data
    Plan for adequate resources
    Address security, privacy, regulations, legalities, ethics
    Establish parameters for acceptable AI performance

    AI adoption is highest within the product- or service-development and


    service-operations functions.

     The survey findings show that some companies using AI are seeing that
    value accrue to the enterprise level.
     22% of respondents say that more than 5% of their organizations’
    enterprise-wide EBIT in 2019 was attributable to their use of AI, with
    48% reporting less than 5%.

    Revenue increases from AI adoption this year are more commonly


    reported in half of business functions, but cost decreases are less common.
     Companies seeing the highest bottom-line impact from AI exhibit overall
    organizational strength and engage in a clear set of core best practices

     Better overall leadership


     Better overall performance
     Resource commitment to AI
     Results are visible for business adopting AI

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