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AI as a Business Tool
  • Relevant themes: Communication, HR-Management, Operations, R&D, Sales and Marketing

DESCRIPTION

When companies consider using AI as a business tool, there are several important considerations they should keep in mind to ensure the successful implementation and utilization of AI technologies. These considerations span various aspects of the organization, technology, and ethical considerations:

At first glance, AI looks very promising in that it can take away many tedious and repetitive work processes such as answering customer requests and product questions. Also, it can make market research much easier and even make smart suggestions for R&D and other ongoing processes. However, how far can it actually assist the different work processes and what are the possible implications of using AI? These questions and other similar questions are not yet clear when using AI as a business tool. Getting a clearer view of AI pros and cons is what this advisory setting is about.

SPECIFIC ISSUES AND KNOWLEDGE NEEDED TO MAKE DECISIONS

  • Security of the AI as it is vulnerable to hostile data breaches
  • Customer and employee impact – understand how they will be affected by the AI 
  • AI model selection needs to consider the appropriate AI techniques (e.g., machine learning, deep learning, natural language processing)
  • ROI measurements – develop KPI’s and other metrics to measure the ROI of the AI initiatives
  • A change management process is very likely to be a part of integrating AI into company work processes

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