The Business of AI: An Overview
AI is changing the way the world does business. The vast amounts of data and the speed at which this data is processed has made artificial intelligence more adept and usable at an everyday level. As a business decision maker, implementing AI may at first seem like navigating through uncharted territory. From an employee perspective, AI may look like their replacement. This series of articles will cover the business of AI: from building a culture to making it responsible.
Why to Consider AI
Gartner predicts that in 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally (“Gartner says AI Augmentation will Create $2.9 Trillion of Business Value in 2021,” 5 August 2019). Most of this enormous value will come from business users and subject matter experts working with AI.
Enhance, Not Replace
From a business user perspective, AI should be used to enhance and not replace human capabilities. AI tools should compliment human ability to perform their work and empower the workforce to all become ‘citizen data scientists’. In fact 91.7% of employees are motivated to participate in AI reskilling (KRC Research, “AI and skills — a global research study by Microsoft,” 7 May 2020).
Real business transformation is accomplished when a wide range of AI models to reason over complex, unstructured information is able to be used by everyone. This means they can choose which AI models to use for different purposes and what information sources to analyze with them.
AI for All Users
A growing field in AI involves no-code tools and platforms. Now users can add AI capabilities to their apps and automate their workflow — regardless of their technical expertise. This truly empowers a workforce.
You may also notice that business applications are applying AI to enhance user experience. AI can assist in productivity, focus, finding answers and integrating a remote work force. Business applications integrated with AI assist in several operations, such as marketing, sales, customer service and operations.
In summary, a business needs to consider how subject matter experts can use AI models to apply their expertise and how to empower all employees to become ‘citizen data scientists’. It should look into how no-code AI tools can help business users create and customize AI models. A business should describe how intelligent business applications can quickly transform core business processes. It should also strategically plan to apply everyday AI experiences to help business users be more effective and productive.
