How do you develop an Artificial Intelligence Strategy for a business?

In this video, you will learn how to develop an artificial intelligence strategy for your business. Artificial intelligence is the most powerful and most important technology innovation of our times. It will completely transform the way we work and live and therefore it will transform all our companies and in order to make the most use of AI and prepare your business for artificial

Intelligence, it is vital that we approach this strategically, and this is why I help organizations develop AI strategies. What I want to do in this video is share with you, a step by step, step process of how you actually develop an artificial intelligence strategy for your business and share some of the experiences that I have gathered doing this for lots of different clients from small And medium-sized companies to big global Giants so lets look at how we go about this. You basically start by identifying some of the use cases, basically how you could apply artificial

Intelligence in your business – and this is where I feel that lots of AI strategies go wrong, because what organizations do is they basically look at their business and say: where can we use AI and in theory you can use AI for anything and everything? So, for me, we have to go back and start with your business strategy and start with your business challenges and say: okay, what do we need to achieve as a business? What are what our biggest goals, what our

Biggest challenges: what are the real priorities for us and how can we use artificial intelligence to help us with all of this for lots of organizations? It also means actually reviewing their current business strategy, because what you dont want to do is you: dont, want to use AI to automate an outdated business model, and I sometimes find this that organizations want to do this. So if we understand how he can now use AI, you then look at your

business strategy and say what does this mean for us how can we use it and then you look at your overall business challenges and strategic priorities and identify where you can use AI so for me I have a number of lenses that I look through when I take organizations organizations through this process the first lens is that we look at your products so if you are a manufacturer or.

company that produces something lets say you produce thermostats and your company like Google and that user produces nest thermostats you want to use AI to make them more intelligent so how do we make more intelligent products the second lens then to look at your services so if your service business what are the services we produce and how can we make them smarter so if you’re an.

Insurance company, like vitality, health, one of them Ive, recently done a video about they want to produce or offer a smarter service as much smarter health insurance service to their customers using artificial, intelligence. So how can you do? That the third, lens then is to look at. Your own processes, so what you do as a business from marketing to operations to to HR and where you could

potentially use AI to to tackle some of your biggest business challenges the process I go through is that I either do a series of interviews where I go into an organization try to understand their strategy their biggest pain point and we then I collectively understand and identify the key use cases or we would run a more collaborative approach where we run a number of workshops or we get cross-functional teams together and explore this together to identify the.

biggest use cases to help you identify and structure those use cases what Ive done is Ive put together a template so this is something that you can download for free from my website at Bernard Murdock come or you can follow the link bottom of this video and basically what this allows you to do is to structure you use case so you start with saying hey what is the strategical how does this link to my strategy what real.

objective do I want to achieve with this use case and how would I measure success so what would success look like so youve ticked off some of the basics and you basically fill this template in for a number of use cases you can identify what you then want to do is you want to narrow this down and say what are the most important ones for my business and again what Ive done is Ive got a template for this so this is your AI strategy template where you then look.

across all your use cases that youve identified to identify the most strategic and the most important ones so depending on how ambitious ambitious you want to be with your artificial intelligence strategy you can identify this one or maybe up to five strategic ones that you say these our priorities now for the next year so these are the things we want to focus on and then you.

all I always recommend that you also identify maybe one two or three what I call quick wins where you say okay we can use AI to make a real difference and we can show results really quickly so there’s an easy win low-hanging fruits and what this means is that you that people will see the benefits of your AI initiatives pretty quickly which then.

helps with the buy-in once youve identified your use cases you then look at some of the cross-cutting implications so this is where you really define your your AI strategy and as part of your AI strategy you need a data strategy and again if you have a look on my channel Ive just done a video on how do you develop a data strategy so this is a good starting point and again similar templates available for that and.

then you look at cross-cutting issues such as legal technology skills some of the implementation and change management challenges around this and once youve identified all of those you can then write this up into a artificial intelligence strategy that you can implement as a business so this is not a difficult process I do this every week with organizations and you.

will notice a big difference once you start looking at AI more strategically instead of just having all these little projects are not connected and not really strategic so hopefully this was useful for more information head to my website at Bernard Murdock come or have a browse of my youtube channel to find more information.