Artificial Intelligence is not just a buzzword or a trend it’s a foundational tool for transforming business operations. In a recent webinar, our partners discussed how businesses can leverage Generative AI for both immediate and long-term success. By automating routine tasks and providing advanced data analysis, AI enables businesses to operate more efficiently and respond to change quickly. Gen AI, in particular, has the potential to drive unprecedented efficiency across business processes, and companies are already utilizing AI to streamline operations, reduce costs, and enhance productivity.
Here are five key takeaways from our webinar Beyond the Hype: Practical AI Use Cases for Maximum Business Impact.
Five Takeaways
- Lead with Value When Introducing AI to Your Organization
According to MIT Technology Review, 78% of business leaders agree that scaling AI/ML use cases to create business value is a top priority.1 When introducing AI innovation to your organization, we recommend beginning with a proof of concept and gradually scaling up. Starting with a proof of concept allows business leaders to display the potential of AI on a smaller scale, building the case for more extensive investment later. This modular approach reduces risk and allows businesses to test and refine AI applications before full implementation, leading to better outcomes.
- Develop an Al-Enabled Secure Digital Core
MIT Technology Review1 found that 72% of business leaders recognize data problems as the most significant threat to AI goals, and according to Accenture2, 47% say data readiness is the top challenge with applying Al. Building a consolidated data structure creates an environment capable of handling increasing data volumes. This offers scalability, which means AI models can be trained on current databases while maintaining their efficacy and accuracy over time. Ensuring your digital infrastructure is robust and ready to handle AI is essential to secure your valuable data against potential threats.
- Reinvent Talent and Ways of Working
With a recent Accenture poll citing 94% of workers saying they want training to work with AI, it’s clear that developing skills across your organization is essential. However, only 5% of organizations provide AI training at scale.3 Bridging this gap in training is crucial for maximizing the potential of AI across your organization. The value of AI can only be fully realized when employees are equipped with the skills and knowledge to leverage these tools effectively. Training and development programs should be a priority to ensure that the current workforce can grow alongside AI, driving efficiency and innovation. AI should be a complement to human expertise, not a replacement for it.
- Close the Gap on Responsible AI
As AI becomes more integrated into business operations, it’s crucial to establish responsible AI principles. This includes building frameworks for accountability, trust, and ethical practices. According to a study, only 2% of companies have implemented responsible AI across their organization, highlighting the need for a stronger commitment to ethical AI development.4 Establishing these principles early in your business's AI journey ensures that AI is used in a way that aligns with corporate values, governance, and ethics.
- Drive Continuous Reinvention
AI is a dynamic field that is constantly innovating and adapting based on our changing technological advances. This webinar stressed the importance of continuous innovation through AI with a modular, scalable approach to AI deployment. The true value of AI is unlocked when businesses invest equally in technology and people, establishing responsible AI practices and consolidating data structures.
By embracing these key takeaways, companies can leverage the full potential of AI and secure a competitive edge in the evolving digital landscape. Organizations recognize that data and AI are catalysts for enterprise innovation, but there is still a lot of work ahead to fully capitalize on the potential of AI. By addressing data readiness challenges and ensuring comprehensive AI training for their entire workforce, businesses can fully leverage AI’s transformative power. As AI adoption rises, with 67% of organizations increasing their technology investment, the future looks promising for businesses ready to embrace this technological revolution.5
1. “CIO Vision 2025: Bridging the Gap between BI and AI.” n.d. MIT Technology Review. https://www.technologyreview.com/2022/09/20/1059630/cio-vision-2025-bridging-the-gap-between-bi-and-ai/.
2. “Artificial Intelligence (AI) Services & Solutions.” n.d. Www.accenture.com. https://www.accenture.com/us-en/services/data-ai.
3. “Accenture Launches Accenture LearnVantage to Help Clients and Their People Gain Essential Skills and Achieve Greater Business Value in the AI Economy.” n.d. Newsroom.accenture.com. Accessed May 15, 2024. https://newsroom.accenture.com/news/2024/accenture-launches-accenture-learnvantage-to-help-clients-and-their-people-gain-essential-skills-and-achieve-greater-business-value-in-the-ai-economy#:~:text=1%20challenge%20is%20their%20inability.
4. “Accenture Takes New Steps to Help Clients Scale Generative AI Responsibly.” n.d. Newsroom.accenture.com. Accessed May 15, 2024. https://newsroom.accenture.com/news/2024/accenture-takes-new-steps-to-help-clients-scale-generative-ai-responsibly#:~:text=%E2%80%9CLeaders%20acknowledge%20the%20importance%20of.
5. Infosys. n.d. “North American Businesses Plan to Invest 67% More in Generative AI in 2024 to Drive Efficiency, Experience and Growth: Infosys Research.” Www.prnewswire.com. Accessed May 15, 2024. https://www.prnewswire.com/news-releases/north-american-businesses-plan-to-invest-67-more-in-generative-ai-in-2024-to-drive-efficiency-experience-and-growth-infosys-research-301967370.html.
