Leveraging the business potential of AI
Artificial Intelligence will change the world. Once in 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.
AI already plays a part in our lives, from search engines and image recognition to email spam filtering and product recommendations. Its versatility and capability allow it to tackle a vast range of business problems and create 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 now and for the foreseeable future. This guide presents an introduction to the capabilities of AI as they stand today, how it has been implemented, what the big players are up to, and where the benefits lie as a background from which to spur your 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 growth opportunities. 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 organisation requires new skill sets and an appetite to explore. We also provide a framework and practical guidance on what will be needed to get a business plan signed off and a project on the road. Ultimately a core component of this is data – the lifeblood of AI – and how your business captures, manages, and stores data to derive value from it. It is data that will enable, train, and refine your AI product or service, so now is an excellent time to become data-focused.
Businesses can employ AI at every level, from decision-making to physical operations. In turn, this means that increasingly we will see AI have a genuine impact on the well-being of people. This report also walks you through an ethical framework to integrate ethical considerations that are vital in designing, producing, and deploying AI-based products and services.