Artificial Intelligence is set to change the world. Where once it was the realm of science-fiction, AI is now a rapidly growing business driver that has seen some of the world’s largest tech companies invest heavily in it as a strategic imperative.
Already, it plays a part in our lives, from search engines and image recognition, to email spam filtering and even recommending what products you might like to buy. Its versatility and capability allow it to tackle a vast range of business problems in addition to the creation of entirely new products and services that didn’t exist – couldn’t have existed – even a few years ago.
It is a game changer that will alter the economic and social landscape right now and for the foreseeable future. This guide presents an introduction to the capabilities of AI as they stand today, how it has currently been implemented, what the big players are up to, and where the benefits lie as a background from which to spur your own ideas for your organisation.
The report then delves into leveraging AI for your own business. It provides a guide to understanding the capabilities and potential of AI, and applying this against current business models and products to look for key opportunities for growth. These can include optimising business processes, improving efficiencies and cost savings, or building entirely new revenue streams and can cross fields such as automation, predictive analytics, business intelligence, preventative maintenance, customer service and even content creation.
Investing in AI for your own organisation will likely require some new skillsets and an appetite to explore, so we also provide a framework and practical guidance on what will be required to get a business plan signed off and a project on the road. Ultimately a core component of this is data – the lifeblood of artificial intelligence – and how your business captures, manages, and stores data in order to derive value from it. It is data that will enable, train, and refine your AI product or service and so now is a good time to become datafocused.
The scope and capabilities of AI enable it to be used at every level of business, from decision making to physical operations. In turn this means that increasingly we will see AI have a very real impact on the wellbeing of people. This report also walks you through an ethical framework in order to integrate ethical considerations that are a vital component in the design, production, and deployment of AI-based products and services.