Artificial Intelligence has become one of the most important technological advancements in business in recent years. The research by BCG and MIT Sloan Management Review was held to demystify the use of AI technology. The report was based on global research of more than 30,000 executives and had held an in-depth interview with more than 30 technology experts. It provided a realistic baseline that will allow companies to compare their AI efforts and ambitions and provide proper guidelines for things to come.
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Proper Planning of AI Implementation
AI projects often fail because of backlash received and not considering a proper plan for the project. To implement a successful AI implant, businesses need to make thoughtful decisions.
Acknowledging that AI doesn’t exist in solitude but is consolidated into broader business procedures is the key to success.
Questions to Ask Before Implementing AI
Ask yourself: What are the business opportunities after implementing an AI? Do you have the proper resources to implement it? What different data types do you need to solve a problem? How are you planning to acquire it?
To help you get clear, here are some things you must consider before investing in AI:
Understand what AI is good at and what it is not.
Artificial Intelligence cannot solve all types of problems, so make sure that it is good at solving the problem you are having difficulty with.
Have a well-defined problem.
The first question you must ask yourself is the problem and why you are trying to solve it. If the scope of your problem is too broad, there is a risk that your initiative might quickly dissolve. Try to keep your scope narrow and build from there.
Determine the technology capability.
Are you sure that your company can work with artificial intelligence? Working with AI often requires software engineers to learn complex machine languages. Therefore, be sure that your team is ready for the challenges.