In today’s fast-paced business environment, leveraging data and Artificial Intelligence (AI) is essential to stay competitive. However, it’s important not to feel overwhelmed by AI and automation. AI is another helpful tool to make your operations more efficient, improve your decision-making and create more personalised customer experiences.
Think Big, Start Small
While some businesses may be revolutionised by AI, it will bring incremental improvements for most. And taking small steps with technology, including AI, will give you a competitive edge.
Doug Kinney famously said in the 1996 movie Multiplicity, “Yeah, I trust him. I trust him like I trust myself, really.”
This reference captures where we’re at now with AI. We’ve moved beyond robots doing repetitive tasks. AI is now about creating knowledge models that think and make decisions like you, or someone else in your business.
But AI doesn’t have to be overwhelming. Focus on where it can have the biggest impact in saving resources and improving customer experience.
Pinpointing Areas for AI Impact
Here’s a simple step-by-step framework to help you identify these opportunities:
Step 1: Understand Business Goals and Challenges
Identify your primary business goals (such as increase revenue, improve customer satisfaction, reduce costs).
Gather insights from departments to understand current challenges and inefficiencies. Surveys or interviews are a great way to uncover specific problems!
Step 2: Assess Current Data Assets and Capabilities
Inventory existing data, and evaluate its quality, accessibility, and relevance. Also look at your current data storage, processing, and analytics capabilities to identify any gaps that may impact your ability to leverage this data.
Step 3: Identify High-Impact Use Cases
Map out business processes and workflows to identify areas for improvement. Look for repetitive, time-consuming tasks that could be automated using AI. Use ROI, ease of implementation, and alignment with business goals to prioritise these.
After you take these initial steps, you can start developing your Data and AI strategy and further define the specific goals and outcomes you aim to achieve.
Quick tip! Focus on quick wins to demonstrate the value of data and AI to your organisation and gain buy-in from stakeholders.
Gaining a Competitive Edge with AI
Remember that you don’t need to be overwhelmed by the scale of AI technology. Instead, focus on identifying specific areas where AI can make the most impact in your business, and build from there.
Small, incremental steps can lead to significant improvements and give you a competitive edge.
We’re offering 20% off our AI Readiness Review (normally $599) for a limited time. This review will help you pinpoint key areas where AI can make an impact in your business. Learn more.
If you’re interested or want to chat about how you can Own The Edge with AI, please get in touch.
