Business leaders at every level see the value of using artificial intelligence, but using AI well is where the true value lies.
And the stakes are high. According to a Deloitte survey released last summer, 61% of companies expect AI to transform their industry over the next three years. Companies with effective leaders, a high level of commitment to AI projects, and a clear AI vision and strategy are positioned to benefit the most from this shift, according to a McKinsey survey released last November.
The key differentiator? Being able to deploy AI at scale. Instead of proofs of concept, or one-off AI projects, companies that will come out on top are the ones capable of deploying multiple AI applications across multiple teams. So far, only 13% of organizations have been able to do this, according to Capgemini’s 2020 state of AI report.
Here are eight tips for transforming artificial intelligence projects into business value, as told by those who are already deriving real-world benefits from AI.
Focus on business transformation
Three years ago, when General Electric was in the early stages of its AI journey, AI projects required a keen focus on specific business benefits, starting out with minimal viable projects. Today, the story is more about using AI as part of a transformation of the business itself.