Developing a roadmap for AI adoption
Artificial intelligence (AI) is in its infancy, and in the very early stages of adoption by most businesses. However, business leaders are eager to implement AI into their organisations’ business functions in order to begin realising the incredible benefits AI has to offer.
And although we don’t yet fully understand all the ways AI could affect businesses, there are several ways in which organisations are already benefitting.
Put simply, AI can improve predictions, automation and optimisations, says Dino Bernicchi, head of data science at Homechoice. Bernicchi will be presenting on ‘Developing a roadmap for AI adoption’ at ITWeb Business Intelligence Summit, to be held from 9 to 11 March as a virtual event.
“There are multitude of benefits to adopting AI. Increased sales and conversions, reduced costs, faster time to market, new product development. Some companies are reporting 10 times improvements in certain processes due to AI,” he adds.
Why then, according to ESI ThoughtLab 2020, do 40% of AI projects garner negative or no returns?
The majority of business leaders do not understand the data and infrastructure required for successful adoption of AI.
There are several ways businesses are going wrong when it comes to implementing AI, Bernicchi says. Firstly, research suggests that the majority of business leaders do not understand the data and infrastructure required for successful adoption of AI.
“Leaders need a better understanding of the three basic requirements, namely data, skills and business buy-in,” he explains.
During his talk, Bernicchi will discuss how to bridge the gap between the promise of AI and the skills and resources needed to implement it. He will unpack how to develop a roadmap for AI adoption, how to prepare data, and what team and tech is required. Finally, he will answer the question: How does AI apply to my business?