MITSloan management review and BCG (Boston Consulting Group)
An interesting read about how there are cultural benefits of Artificial Intelligence in the enterprise. Report based on 2,197 managers and interviews with 18 executives from 29 industries and 112 countries.
I agree. AI projects should be developed as a foundation to a business and endorsed by everyone. Having an AI strategy can strengthen direction and unify business culture. There are huge benefits if done correctly.
The key is to embrace AI at a larger level to create bigger and better value. Some companies are are going further and using AI to develop newer business models and revenue streams ie Manufacturing companies developing AI for a service model.
By looking outward, you are being receptive to new opportunities. The act of doing this, also aligns fresh thinking.
By post analysing old research and KPIs, you can re-evaluate your fundamental objectives as well form new ones. A project without KPI’s is like a car without a steering wheel.
AI insights are powerful as they can transform the fortunes of an enterprise. Every company should focus on gaining the best insights.
Interesting analysis. As you develop AI, build team culture and focus on effectiveness, it creates a cyclical process of increased improvement.
Paul Pallath (global technology head of data, analytics, and AI at Levi Strauss & Co) says about the importance of training to improve adoption and trust. This is a very good point as the more people understand the aims, the higher probability they will adopt and help drive it further.
If you address an AI project head on, if implemented correctly with a clear unified focus, teams will improve decision-making. This is an iterative process of engagement, improvement has a direct affect on the culture.
This shows that the inertia of AI can then fuel further learning and improvement.
Thinking of AI as a strategic capability focusses on the proactive nature of the technology. By working on this and the culture, there are huge benefits.
Thinking of AI as a tool kit is a good analogy as you can select the best tools for your organisation. As the organisation evolves in its AI strategy, different AI tools can be implemented.
The power of AI can expose many new opportunities as well as KPI’s.
Change is a huge factor for an increased morale. Using AI can initiate company wide change which in-turn could transform a company.
The power of AI can help strengthen the culture of a company which intern improves the AI. The secret is keep this in a tight iterative cycle.
The act of thinking and implementing AI can help spark wider thinking. It should be seen as transformational. There are many levels that will add value to your team. Good to get the AI strategy right first and get everyone to adopt it for ultimate success.
The key is to look at your AI and culture. If you manage both, they should harmonize in a virtuous cycle, giving increasing rewards. If done properly you should be able establish new KPI’s for measuring your effectiveness.
This is great report . We often don’t hear about the intangible benefits of AI within an organisation. This clearly highlights some of the major benefits of AI.
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