{"id":9740,"date":"2021-10-01T07:01:42","date_gmt":"2021-10-01T12:01:42","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=9740"},"modified":"2021-11-24T10:50:30","modified_gmt":"2021-11-24T15:50:30","slug":"artificial-intelligence-ai-strategy-top-priorities","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/artificial-intelligence-ai-strategy-top-priorities\/","title":{"rendered":"Artificial Intelligence (AI) Strategy: Top Priorities"},"content":{"rendered":"

\"\"Artificial Intelligence<\/a>\u00a0(AI) is one area considered by many executives to enable Automation and steer positive growth.\u00a0 A couple of years ago, most executives thought that deployment of Artificial Intelligence isn\u2019t a big deal.\u00a0 However, revamping traditional systems, implementing AI, and scaling it, in reality, is not as simple as it seems.<\/p>\n

A survey by PwC Research in 2020, which gathered responses of 1062 business leaders, validates that scaling and industrializing AI is not straightforward at all.\u00a0 Only 4% of the respondents asserted that they plan on implementing organization-wide AI in 2020.\u00a0 A year earlier, the same survey revealed 20% of the executives planning to do that.\u00a0 The survey shows a significant decrease in the number of senior leaders thinking of executing AI.<\/p>\n

The reason for this dwindling interest in AI deployment is mainly because of the tough prerequisites necessary\u2014contemplation, resources, preparedness, overhauling legacy systems, and integration of technology applications\u2014for enterprise-wide AI implementation.<\/p>\n

A robust AI Implementation Strategy needs to be first devised in order to assist the organizations in moving forward with their AI deployment plans.\u00a0 Research reveals 5 key priorities of AI Strategy<\/a> that businesses should follow to position themselves as AI leaders and reap value from Transformation<\/a> in future.\u00a0 These priorities not only highlight the key requirements for AI deployment but also pinpoint ways to maximize pay offs associated with the initiative:<\/p>\n

    \n
  1. Boring AI<\/strong><\/li>\n
  2. AI-ready Workforce<\/strong><\/li>\n
  3. Responsible and Ethical AI<\/strong><\/li>\n
  4. AI Operationalization<\/strong><\/li>\n
  5. Business Model Innovation<\/strong><\/a><\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    Let\u2019s delve deeper into a few of these key priorities.<\/p>\n

    Boring AI<\/strong><\/h2>\n

    One of the key reasons to employ AI, as cited by PwC research, is to automate routine administrative functions\u2014e.g., using AI to pull information from tax forms, bills of lading, or invoices that can otherwise take up long hours of human effort.\u00a0 44% of respondents revealed that AI will help them operate more efficiently.<\/p>\n

    To ensure AI adds value<\/a> to the business, leaders should develop a strategy to identify the areas where AI can have a much deeper impact; build capabilities to do that; develop AI solutions, govern them, and embed them with existing systems.<\/p>\n

    AI-ready Workforce <\/strong><\/h2>\n

    Building or enhancing the capabilities of the workforce to become AI ready is critical today not only for technology enterprises but also for other businesses.\u00a0 Organizations should identify the skills required for AI and train their people to deploy AI solutions.<\/p>\n

    However, thinking of achieving this through traditional means of offering training<\/a> sessions isn\u2019t a viable strategy to tap the opportunities offered by AI. \u00a0In addition to training people, organizations should cross-skill their people in multiple trades and provide them the opportunities to apply and hone in the skills learnt. \u00a0In fact, organizations should reward people who apply what they learn into real-time problem-solving and productivity enhancement.<\/p>\n

    Responsible and Ethical AI<\/strong><\/h2>\n

    AI can be perilous if adequate understanding of its responsible use and necessary procedures to protect against its risks and negative usage are not taken.\u00a0 There are growing apprehensions around AI related risks e.g., biased algorithms, facial recognition tools, and deep fakes. \u00a0As per PwC survey, a large majority of respondents, using AI routinely, declared readiness in their organizations in terms of taking sufficient measures to protect against AI risks.<\/p>\n

    However, in reality most organizations are quite far from implementing controls around data and decisions generated using AI.\u00a0 Just about 33% businesses mentioned having the ability to fully tackle risks associated with data powering AI, AI models, outputs, and reporting. It is imperative to have rigorous Risk Management<\/a> processes in place to effectively use AI in the workplace and address the risks associated with it.\u00a0\u00a0 AI risks can be mitigated by integrating processes, tools, and controls needed to address AI bias, explainability, security, accountability, and ethics.<\/p>\n

    Interested in learning more about the other key strategic priorities essential for AI deployment readiness?\u00a0 You\u00a0can download\u00a0an editable PowerPoint on Artificial Intelligence Strategy: Top Priorities\u00a0<\/b>here<\/a>\u00a0<\/u>on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n

    Do You Find Value in This Framework?<\/h2>\n

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    \u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market.\u00a0 They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.\u00a0 I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>\n

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    \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n

    \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

    Artificial Intelligence\u00a0(AI) is one area considered by many executives to enable Automation and steer positive growth.\u00a0 A couple of years ago, most executives thought that deployment of Artificial Intelligence isn\u2019t a big deal.\u00a0 However, revamping traditional systems, implementing AI, and scaling it, in reality, is not as simple as it seems. A survey by PwC… Artificial Intelligence (AI) Strategy: Top Priorities<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":9742,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[84,85,81],"tags":[1328,2680,2679,670,1800,3,2682,2681,388,824,1199],"class_list":["post-9740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information-technology","category-organization","category-strategy","tag-ai","tag-ai-implementation","tag-ai-ready-workforce","tag-artificial-intelligence","tag-automation","tag-business-model-innovation","tag-ethical-ai","tag-scaling-ai","tag-strategy-2","tag-transformation","tag-value-creation"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/9740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=9740"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/9740\/revisions"}],"predecessor-version":[{"id":9750,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/9740\/revisions\/9750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/9742"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=9740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=9740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=9740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}