Artificial Intelligence (AI) is creating the next largest divide not only between people, but also between organizations. Taking full advantage of AI requires a two-pronged approach by any enterprise. First is to identify the business processes that can gain most from the introduction of AI. Second is to treat AI as a key component in any reengineering effort with quality data as one of the highest priorities.
Since one key beneficial attribute of AI is that it can replace tedious, low-value human tasks, it is important to target processes that enable staff to focus on other higher-value areas. The perspective of pragmatically tackling routine processes first is echoed in research presented by Harvard Business Review, which provides a useful construct by defining three types of AI: one applied for automation, another for delivering insight, and a third for customer engagement.
Data Science: the Key to Successful AI
Even when an organization thoughtfully approaches AI as a component within an overall process reengineering effort, a significant hurdle remains. This is the ability to produce and curate the data necessary to power an AI-infused project. Even though many software vendors include AI in their products, customizing the desired outcomes based upon a given organization’s own needs requires a highly disciplined approach to understanding what data is required and in what capacity.
In 2018, a survey of data scientists found that 55% reported that the quality and quantity of data was their biggest challenge in their work. There is clearly a lot of room for improving the “input side” of things even with the curation of data sets. If your organization is not planning for this now, you may end up on the side of the “data poor.”
Future AI Bifurcation
Overall, there is no doubt that AI will have a significant impact on many different parts of our daily lives, both in personal and professional activities. However, it is clear that while there is exuberance around applying AI, many organizations lack the necessary experience and skill necessary to directly benefit from AI, leaving the real progress to forward-thinking enterprises that are leading the charge. It is up to organizations to start preparing for that eventual decision sooner rather than later or face falling far behind their competitors.
To learn more about this topic, visit futureofsourcing.com to read Greg’s article on how to approach Artificial Intelligence now and preparing for the future of AI.
Greg Council is Vice President of Product Management at Parascript, responsible for market vision and product strategy. Greg has over 20 years of experience in solution development and marketing within the information management market. This includes search, content management and data capture for both on premise solutions and SaaS. To contact Greg and Parascript, please email: email@example.com.