In recent years, AI has become more powerful and its applications to business have increased dramatically. As a result, companies that hadn’t seriously considered using AI are taking a fresh look. The appeal is obvious: different forms of AI can enhance performance through, prediction, automation of routines, identification of images essential to operational activities, or the identification of key words, phrases and patterns in voice and text for information management.
What Companies Need to Know Before Investing in AI
Seven factors to consider.
December 19, 2022
Mathieu Labrecque
Summary.
Different forms of AI can improve performance through prediction; automation of routines; and identification of images, keywords, and patterns in voice and text. However, organizations often struggle with knowing where investments in AI will really pay off. Companies need to 1) ask whether they really need AI, 2) pick a task to start with, not a project 3) identify what data and complimentary systems it will require, 4) adjust expectations around accuracy accordingly, 5) not rush to deploy it enterprise-wide, 6) ask whether they have the necessary skills to maintain an AI, and 7) decide whether the returns will outweigh the costs.