Unlocking Competitive Advantage: A Guide to AI Adoption Strategies
As leaders navigate the future, here are five questions to serve as a guide to AI adoption strategies.
1. Can Adopting AI Create a Competitive Advantage?
Yes! There is enormous room for growth in the era of AI and right now it’s less about differentiation and more about application. AI experimentation is the first step in developing meaningful capabilities in the industry.
2. Where Can We Start, and What Is The Benefit?
The Mundane vs. The Moonshots. Smaller operational tasks stand to have the fastest ROI with AI adoption, but don’t get lulled in the day-to-day. Strategizing AI application at different scales is key for future adoption and becoming data-ready.
3. Speaking of Data…What Data Do We Really Have?
Becoming fluent in your data is a necessity not an afterthought. Companies should consider their data as a huge asset, and ask how to utilize AI in a meaningful way. Sourcing, structure, and quality are some great places to start.
4. Are We Investing in AI Skill Development for Our Teams?
If you are not organizationally and culturally aligned to innovation, AI adoption will be slower. Assess whether teams have the necessary AI skills, and if not, starting training them.
“AI won’t take your job, it is somebody using AI that will.”
– Richard Baldwin
5. How Are We Addressing Ethical and Regulatory Considerations in AI?
With anything this new there are a lot more questions than answers, especially related to ethical and regulatory aspects of AI. Ensuring AI practices are safe, ensure privacy, and stand against future regulatory is paramount.