AI has the potential to do so much that it can be hard to know how your company should use the technology.
To start building an AI strategy, try a few pilot projects. Your goal should only partly be to create value; more important is showing stakeholders why investing in AI is worthwhile.
Choose two to three projects to increase the odds of having at least one big win, and make sure they can be done relatively quickly — within six to 12 months. The projects should be specific to your company and shouldn’t be too trivial or too ambitious. If possible, tie them to ongoing initiatives, which will make their results easier for stakeholders to understand.
Most AI projects create value in one of three ways:
They reduce costs,
Increase revenue, or
Launch new lines of business.
Focus yours on at least one of these goals. And if you’re still building up your company’s AI team, consider working with external partners to get the expertise the projects need.
How have you implemented new technology?