CIODigital Disruption

How CIOs Can Introduce AI as a Business Strategy

AI is still in its nascent stage. CIOs are finding it hard to convince stakeholders to include it in the business strategy. The CIO UK and Computerworld UK’s ‘Making Artificial Intelligence a Business Reality’ research report conveys the dilemma. CIOs still do not have a firm idea about leveraging the technology. In this article at CIO.uk, Thomas Macaulay discusses how CIOs can introduce AI as a business strategy.

Propagating AI Business Model

65% of the CIOs that opined in the report are at their AI pilot stage. Only about a fifth have already implemented artificial intelligence projects. Following are the ways CIOs can introduce AI as a business strategy:

Starting Off with a Business-First Approach: Instead of a separate AI-led strategy, tune it as per the business strategy, says Travel Corporation CTO Rajat Dhawan. Start from processes that will give you quick and assured wins and progress to the more complex ones. 54% of the respondents observed that deploying intelligent machines freed up workforce for more complex assignments. 44% opined that it gave them a competitive advantage while 41% experienced cost efficiency. 31% got better insights into end user requirements. 25% unfurled new avenues to do business. Reed Online director Chris Bradbury insists placing user requirements at the core of the AI-based strategy.

Experts in Charge: Who can better convince stakeholders than those that have hands-on knowledge in these intelligent machines? Amnesty International CIO John Gillespie narrates how they benefitted from having a data scientist on board. 90% of the respondents talked about the lack of skilled professionals in emerging technologies as a growing problem. 60% believed that data scientists must oversee AI projects. Close contenders were data engineers (52%), BI and data analysts (50%), and developers (4%). Skanska senior partner Inna Stelmukh insists on having a diverse team for innovative idea generation and unbiased algorithms. DP World Head Que Tran recommends establishing an ethics committee.

Leveraging Partnerships: CIOs can partner up with AI service providers to scale in-house capabilities. Respondents think Google (68%) and Microsoft (59%) provide the top artificial intelligence solutions. They are closely followed by Amazon Web Services (44%), IBM (35%), and Salesforce (11%). EMEA-Experian director Aline Hayes encourages talking to peers to get industry insights.

Business Value Delivery: News UK technology director Nadine Thomson is leveraging technology to understand customer needs. Bradbury is enabling Reed users to find suitable jobs and resources using deep learning and ML. 80% of the participants think AI is going to change organizations for the better within 3 to 5 years. However, CIOs must draw the line and remind everyone that intelligent machines do not have solutions for all.

To view the original article in full, visit the following link: https://www.cio.co.uk/it-applications/cios-explain-how-make-ai-business-reality-3693081/

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Indrani Roy

Indrani Roy is currently working as a Content Specialist for CAI Info India. She has knowledge in writing blogs, product descriptions, brand information, and coming up with new marketing concepts. Indrani has also transcribed, subtitled, edited, and proofread various Hollywood movies, TV series, documentaries, etc., and performed audio fidelity checks. She started her career by articulating a knowledge base for an IT client, and, eventually, went on to create user manuals and generate content for a software dashboard. Writing being one of her passions, reading books is naturally her favorite pastime. When not lost in the world of letters, she is a foodie, movie buff, and a theater critic.

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