Is your company culture ready for AI? A recent study from McKinsey & Company found that only 1% of survey respondents indicated that they saw no value from AI, or a negative value. In the manufacturing sector, about 80% of respondents saw moderate to significant value.
Organizations are still early in the adoption process of artificial intelligence (AI). In the group surveyed, nearly a quarter of companies had not developed an AI road map because one of the biggest challenges to AI adoption is strategy. Reasons also include lack of talent, siloed environments, and leadership who may not value the technology.
As a technology leader within an origination, you may be fighting an uphill battle to get your company to buy in on the benefits of AI. In an effort to garner more favor for AI, technology leaders will have to take steps to ensure success throughout an origination.
Developing a digital road map is the first step. Most digital road maps, however, involve changes that transform current business processes, operating procedures, and the way that people work.
The core benefit of road mapping is to visualize your strategy and, assuming your case is strong, you will ultimately make it easier to communicate with leadership, which will help to facilitate buy in. Digital road maps are living documents that push teams to be more interactive, to share information freely, and to adapt to your market and needs.
The next step is to scale AI across the entire business. Deploying AI to any extent is likely to have an impact, but the impact will be underwhelming unless AI is driven across the entire organization. Results are likely to be good but results at scale are likely to be much higher according to the report. As such, and with any new implementation, two of the keys to success are selecting the right partner to train your staff and internal change management. This does require full commitment of leadership and a top down commitment to AI, which you should be able to deliver with your road map.
To be cliché, the last step is putting aces in their places. In other words, you need enough enablement to originate value from AI at full scale. Although, you most likely won’t be directly responsible for hiring efforts, you’ll need executive sponsorship (maybe that’s you), and enterprise document indicating all AI opportunities, hiring to close talent gaps, and finally implementation of a data strategy to achieve gains.
Columbus is a leader in the digitalization efforts of our clients through empowering teams to make better informed decisions based on real time data. Columbus helps derive value from big data using integration tools, advanced analytics techniques to answer the complex, high-value questions that drive revenue, customer experience and profitability.