Few innovations have caused as much excitement and garnered more hype than artificial intelligence (AI). And rightly so. Industry experts suggest that AI will completely revolutionise all aspects of our lives. Despite its potential, there are many misconceptions about AI – from fears of massive job losses to concerns that super computers will take over the world.
But these negative notions about artificial intelligence fail to acknowledge the potential gains that organisations and governments that achieve by embracing AI. When working on an AI strategy, IT leaders need to separate the facts from the myths if they want to extract real value from this incredibly popular technology.
Below, we unpack how organisations can enjoy tangible benefits from their AI investments:
- Start out by establishing what AI can and cannot do for your organisation and only apply AI to the most practical scenarios and use cases.
- Develop an AI strategy, even if your current approach is “no AI” for now. Any AI strategy, including “no AI,” should be periodically researched and revisited.
- Manage the impact of AI on existing tasks by working closely with your HR team to identify the different tasks and activities that will be transformed by AI.
- Redefine job roles and adapt capacity requirements to reflect changes in productivity and then introduce new training programmes for existing staff.
- Make AI part of decision-making systems by collaborating with relevant business and IT stakeholders.
- Ensure that AI is focused on real business challenges and showcase how AI can solve real-world problems.
- Take time to ensure that your IT teams are prepared for integration with new technologies.
- Build trust by making sure that business users and key stakeholders understand the trade-off between different AI models so that they can decide on an approach that best fits their unique circumstances.
In 2021, we’re set to see artificial intelligence gain notable momentum across a wide range of industries as it becomes a ‘normal’ part of everyday life. Are you ready to embrace the wave? Our monthly newsletter offers a wealth of insights around all things emerging technology, innovation and business strategy. Subscribe below.