Article published on August 28th, 2017, by:
The buzz over artificial intelligence (AI) has grown loud enough to penetrate the C-suites of organizations around the world, and for good reason. Investment in AI is growing and is increasingly coming from organizations outside the tech space. And AI success stories are becoming more numerous and diverse, from Amazon reaping operational efficiencies using its AI-powered Kiva warehouse robots, to GE keeping its industrial equipment running by leveraging AI for predictive maintenance.
While it’s clear that CEOs need to consider AI’s business implications, the technology’s nascence in business settings makes it less clear how to profitably employ it. Through a study of AI that included a survey of 3,073 executives and 160 case studies across 14 sectors and 10 countries, and through a separate digital research program, we have identified 10 key insights CEOs need to know to embark on a successful AI journey.
Below are the 10 key insights:
- Don’t believe the hype: Not every business is using AI… yet.
- Believe the hype that AI can potentially boost your top and bottom line.
- Without support from leadership, your AI transformation might not succeed.
- You don’t have to go it alone on AI — partner for capability and capacity.
- Resist the temptation to put technology teams solely in charge of AI initiatives.
- Take a portfolio approach to accelerate your AI journey.
- Machine learning is a powerful tool, but it’s not right for everything.
- Digital capabilities come before AI.
- Be bold.
- The biggest challenges are people and processes.
To find out in detail the content of these 10 key insights illustrated with statistics from the survey, please click here.