AI in Business - The Answer Lies in Making a Small Change

Tom Cole, President & CEO

Since coming back after the holidays, I have been bombarded with news articles, press releases, and industry reports - all of which point to Artificial Intelligence (AI) as the significant trend all businesses must pay attention to in 2019. On one day last week, the Wall Street Journal featured five articles focused on AI:

  • AI predicted weather is altering business workflows

  • VC deals are dependent on AI

  • AI used to evaluate 2,700 characteristics of a borrower to determine whether or not to make a car loan

  • Healthcare startups are breaking down data silos to feed AI systems to provide better care outcomes, and

  • Fake news is being detected and curbed by the use of AI 

AI is creeping into every industry and business process, and rapidly blurring supply chains between B2B and B2C. But what do they really mean by “AI?” 

So many technologies, tools, and services are bundled into the term AI. Are they talking about using "Big Data", "Advanced Analytics", "Machine Learning", "Cognitive Services", "BOTs", "Predictive Learning", "IoT", and the list goes on? It can be very confusing and overwhelming, but that can’t be an excuse for ignoring it. 

Businesses have always needed to embrace new technologies, especially as they become pervasive in their specific marketplace. Many participants in our workshops and seminars have said, "I want to evolve, but how and where do I start?!?" The answer is in making a small change, gaining experience, and then applying it to the next small change.

AI in Business - The Answer Lies in Making a Small Change

What are the uncertainties that may be blocking you from starting with that small change?

  • What would I use AI for?

  • What direction do I go in - Cognitive Services, BOTs, Predictive Analytics, or …?

  • What data do I need to make use of the tools?

  • Which processes are highly repetitive?

  • How will it help my business?

Many excellent research institutes and consulting companies have created AI adoption curves and maturity models to communicate the stages of AI adoption that businesses transition through. We have a series of workshops that objectively guide a business to identify their unique starting point, based on their experience, culture, staff, capital, business cycle, technology stack, etc..

In our AI workshops we:

  • Objectively identify where you are today across key AI parameters

  • Identify clarity of your goals, market differentiation, business plan and vision

  • Establish a high level roadmap (leveraging the right maturity model), and

  • Identify the highest value, lowest risks starting points with targeted measurable returns

We often hear that our workshops have delivered clarity, consensus and buy-in across the organization. Ultimately, our goal is to eliminate confusion, assemble a team around an agreed upon plan, and execute and measure progress against that plan. 

Your customers and competitors are evolving rapidly. Now is the time! If you’re ready to understand how AI can help your business, reach out to me to see how one of our workshops can support you in making that first small change.

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