You don’t have to look very hard to discover the benefits that artificial intelligence (AI) offers your organization. After all, AI reduces human error, gladly does repetitive tasks, improves personalization, recognizes patterns in data, works 24/7, and delivers dozens of other benefits to organizations large and small.
But AI comes with a catch, doesn’t it? And that catch has nothing to do with taking over the world or replacing jobs but has everything to do with readiness. In short, is your organization ready for AI?
Are you ready today to design, develop, and deploy an AI solution? Not every organization is ready for AI. Answer the following four questions to find out if you are.
AI and machine learning are simply tools that help your organization perform tasks that normally require human intelligence, such as recognize objects, understand speech, make decisions, and translate between languages.
AI in and of itself is useless unless it has something purposeful to do. Which means you are not ready for AI until you first know what you are going to use AI to accomplish. This means you need an AI strategy before you need AI. And that AI strategy is typically driven by a business need, such as automating manual processes, mining data for insights, saving time and money, and making better business decisions.
Designing and developing an AI solution is a business decision that involves costs. But those costs only make sense if they deliver a positive return on your AI investment. This means you are not ready to invest in AI until you have done the math to calculate the ROI you project to receive in a year, two years, and more.
When it comes to calculating your ROI, remember to include more than just financial figures. AI return on investment includes:
AI needs something to work with, and that something is data. AI algorithms can’t learn anything without steady access to quality data, in large amounts, from multiple sources. Your data has to be optimized. It must be:
Just because implementing AI may seem like a good idea doesn’t mean you are ready for it. And just because AI will make your organization more efficient doesn’t mean your employees will welcome it.
If you are considering deploying AI or machine learning, you must acknowledge that some of your employees fear that the move will eliminate their jobs and put them out of work. This means that a major AI initiative is about change management just as much as it is about digital transformation. After all, AI needs humans to be successful.
One way to remove this fear is to discover if AI is going to result in a net loss of jobs. You may discover that your employees simply need to adapt or re-train to accommodate your introduction of AI.
How did you do on this quick quiz? To implement AI at your organization, you must have an AI strategy, know your anticipated ROI, have your data optimized for AI, and have the full cooperation of your employees.
You don’t need a 100% on the quiz because we can certainly help you get there. If you’re ready to explore AI as a way to improve your operations, consider scheduling an AI Exploration Session with a member of the Pandata team. In this session, we can discuss your current needs, and dive deeper into ways your organization can implement human-centered AI and machine learning solutions to accelerate your business goals.
Hannah Arnson is the Director of Data Science at Pandata.