AI is one of the most valuable technologies a business can implement.
It has the potential to save your business lots of money, streamline your operations, and offer superior insights and information about your business.
However, AI is not simply a plug-and-play solution – relevant actors in your business need to be prepared and educated on AI if you hope to implement it and reap its various powerful rewards.
Microsoft has therefore released an AI 360 strategy, which includes 8 capabilities your business needs in order to develop advanced AI maturity, access the business benefits, and minimise the risks of the technology.
1. Advanced analytics
By having an advanced analytics platform, you can access and use data science skills and pair them with AI solutions.
Advanced analytics platforms will also enable you attract superior talent that is able to better utilise AI and reap its benefits.
2. Data management
AI solutions rely heavily upon having appropriate and extensive data in order to operate efficiently.
If you don’t have such a system, your AI solution will be unable to make qualified, accurate decisions as it will not have the information required to inform them.
This is why it is crucial that your business develops the ability to capture, store, structure, label, access, and understand its data.
3. Open culture
While the benefits of AI are extensive, many people are unwilling to embrace change and will resultantly prove to be obstacles between you and your AI-powered business goals.
It is important that you nurture and maintain a work culture that is always looking to embrace new solutions that can improve business operations.
4. AI leadership
Those who are in powerful leadership positions within your organisation need to be fully on-board with the needs and implications of AI implementation.
They need to plan business KPIs around the technology, and work to onboard the entire organisation into an AI-ready mentality.
5. Emerging tech
The tech space is constantly evolving, and it is critical that your organisation is willing to embrace change.
New solutions, applications, and platforms can provide improved and streamlined ways to improve your AI solutions. Your organisation needs to be willing to test and implement modern technologies.
6. Agile development
Your development team needs to work together in short cycles and iterative processes across your business.
This will ensure that you can continually improve upon your AI solutions.
7. External alliance
While your internal team needs to be AI-ready, it is also important that you enter into valuable strategic partnerships with third-party solution providers to complement your business’s efforts.
It is also worth engaging with business advisors to access the full technical capabilities and best practices of AI.
8. Emotional Intelligence
It is crucial to apply behavioural science capabilities as part of AI solutions so that these tools can both understand and replicate human-like behaviour.
These solutions need to address human needs, interact with technology, and must generally operate as “humanly” as possible.
Microsoft AI 360 strategy
The AI 360 strategy by Microsoft helps businesses develop a comprehensive AI plan.
Microsoft has published a whitepaper outlining how businesses should prepare to implement their AI strategy, or where they can improve on their current system.
This article was published in partnership with Microsoft.