These days many companies invest in Artificial Intelligence. Among all those companies, there is an exclusive group that actually generates value from AI. BCG and MIT Sloan Management Review conducted a survey among 2500 executives, concluding that 7 out of 10 companies hardly achieved any value from AI initiatives.
How can that be explained? And what can you learn from it to ensure that your AI project succeeds?
The survey discusses 6 common strategies and approaches employed by those companies that do generate value.
- Integrate the AI strategy with the business strategy
- Prioritize revenue growth over cost reduction
- Take on large projects with big impact – even if they are risky
- Align the production of AI with the consumption of AI
- Treat AI as a major business transformation effort
- Invest in AI talent, data governance and process change
In the video blog below we’ve combined the insights from the paper with our experiences.
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