The Business Strategy and the AI Strategy
An AI strategy exists to support
the business strategy. Business strategy defines the best road for your
company. What alternatives will provide the highest possible business value?
What are the features that differentiate a company from its competitors? business
plan is presented for measurable purposes, e.g. in the form of Key Performance
Indicators (KPIs) or Key Goals and Outcomes (OKRs). These trends track progress
toward achieving business objectives.
Opportunities and Challenges of AI
Generally, AI can do three things well: create efficient processes,
create new products, or improve existing products. An example of automated
processes is Robotic process automation, which frees employees from boring,
repetitive tasks. AI can also help companies develop completely new products e.g. smart home
speakers are powered by AI. Finally, AI can also improve existing products.
Credit decisions today are largely supported by AI. The model starts with more
detail than people can do, thus reducing the overall cost of consumer debt.
The Core Components of an AI Strategy
In the same way that an electric company is affected, every company will
be affected by the power of AI. While no AI strategy looks the same, all AI
Strategies need to answer the same questions. The key elements of any AI Plan
are its impact on the sacred presence of Data, Infrastructure, Algorithms,
surrounded by the pillars of Capacity and Organization. Let's get into each
section.
AI
Strategy for corporations and startups
Creating an AI Strategy is different for companies and startups. Raphael
Kohler explains that companies have to look at the legacy system and are
challenged by the control of existing organizational change, while startups can
focus on entering the positive AI cycle. Andreas Meier knows that it can be
hard to put an AI path into effect. He says that in large companies, many
opportunities exist for implementing processes with AI. For Andreas, it is
important to simply first give value.
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