“The Answer to the Great Question… Of Life, the Universe and Everything… Is… Forty-two,’ said Deep Thought, with infinite majesty and calm.”
There’s absolutely no doubt that Douglas Adams had a whale of a time when he wrote the intergalactic adventure that is ‘The Hitchhiker’s Guide to the Galaxy,’ but little did he imagine the metaphors that would spring into being basis this epic voyage across the universes.
Why did we adopt the metaphor of these wandering souls? Mostly because we’re on an inevitable quest. It’s important to understand that Analytics is no longer a competitive differentiator for businesses. It’s a benchmark that all organizations need to adhere to, but that’s not all. With the evolution of the AI hype cycle, enterprises have warmed up to artificial intelligence and its synergies with analytics. Today, with its far-reaching consequences and clout, AI-powered analytics is heralding changes among enterprises to drive growth and make more accurate better decisions.
HBR states that almost 80% of larger companies have adopted different forms of ML and AI in their core businesses, which is a testament to the maturity of enterprise AI use cases and improvement in perception of value realisation over the last few years.
Value realization is a moving target
For CXOs, the most important metric for any new investment is value realization. The AI hype has mostly been focused on consumer applications and most of the enterprise AI narrative has been hype, thereby making executives nervous about investments. Apart from the lack of clarity there is a lot of one size fits all approach to AI presently where it’s all about the bells and whistles. Enterprises should look at a value- based roadmap and tie investments and efforts to business outcomes and scale over a period of time as they start realizing value. Having said that value is a moving target and open to many interpretations and that’s why metrics tied to business outcomes is crucial for success.
What does AI for Enterprise mean?
If you condense the entire digital transformation narrative it is really about some key outcomes that are either functional or pan-enterprise in nature;
- Customer Experience
- Operational effectiveness
- Digital Business Models
Now these are not necessarily new initiatives, but the point is not about recency, it’s really about speed. The conversation in the boardroom is really about accelerating the journey. That’s where AI comes in. Combine your analytics infrastructure with AI systems and what you get is applications that drive democratization of insights across the enterprise enabling faster and more accurate decisions across businesses. At BRIDGEi2i, we call it crossing the insight to impact chasm. In essence using AI to deliver real-time insights in more consumable ways to the last mile to drive business outcomes is “AI for enterprises”.
By combining data engineering, advanced analytics, and proprietary AI accelerators with its rich consulting expertise BRIDGEi2i helps enterprises accelerate their digital transformation journey.
Learn more about AI for the Digital Enterprise
Sustaining IMPACT is where the edge lies!
Like we said earlier, value realization is a moving goal! As momentum builds along the roadmap, the focus to sustaining impact. Once AI systems start delivering insights its about increasing adoption and enabling users, customers and employees; Operationalization becomes crucial. Partnering with AI consultancies to set up centers of excellence (CoE) can help embed data-driven decision making into the organization culture and derive incremental value across the enterprise.
Get a better understanding of the AI landscape: Read BRIDGEi2i & Analytics India Magazine’s report “The State of AI in India 2019”
To sum it up, AI has been revolutionizing life as we know it, and enterprises are catching up fast: data ecosystems, algorithms for automated analytics, and decision recommendations. The onus has moved from using analytics tools and techniques to extract insights to deploying AI-powered real-time insight delivery mechanisms to the last mile and building a data-driven enterprise culture.
Be a hitchhiker and pull the throttle to full gear as you delve deep into everything that’s AI! As Douglas Adams likes to say, “Don’t Panic!!”
For more comprehensive learning on how AI can really transform your life, just download the whitepaper below!