Over the past few years, the pace of innovation in artificial intelligence (AI) technologies has been staggering, predominantly coming from small vendors. CIOs are in the perfect position to educate the company’s CEO and board about recent developments in AI and illustrate how AI might influence their business and their competitive landscape.
By following this approach, CIOs can potentially flip the traditional engagement model between IT and the business, influencing business strategy at the outset, rather than simply developing implementation projects that follow up on the executive team’s decisions.
AI will be used to render new insights, transform decision making and drive improved business outcomes. It includes many areas of study and technologies behind capabilities like voice recognition, NLP, image processing and others that benefit from advances in algorithms, abundant computation power and advanced analytical methods like machine learning and deep learning. These rapidly advancing capabilities are behind new business models based on data and a wide-range of impacts across the enterprise. Most organizations may not pursue the leading-edge uses of AI, such as building robots and self-driving cars; however, AI will play an increasingly important role in the top-three business objectives cited for the office of the chief data officer (CDO) — greater customer intimacy, increasing competitive advantage and improving efficiency.
While many enterprises will be content to leverage applications incorporating new capabilities, enterprise leaders should understand leading use cases, determine where the greatest potential exists for AI technologies, assess where “quick wins” can be obtained and determine organizational responsibilities to address the breadth of opportunities. At its core, AI is about solving business problems in novel ways. It stretches across any organization from innovation, R&D and IT to data science.