Achieving the level of customization, personalization, and operational efficiency necessary to compete in an increasingly fast-paced, digital environment is top of mind for nearly every business executive in any industry. By now, many recognize artificial intelligence (AI) as a critical enabler in these pursuits. They’ve begun to envision a bold AI-powered future where AI helps, for example, retailers deliver individualized products before customers even request them or manufacturers customize products on demand and deliver them the same day via small, local factories that reside in every city.
However, many executives at incumbent organizations have yet to recognize what it takes to get there. While most acknowledge the need to rethink business models for digitization efforts, we don’t see a similar understanding around the use of AI. It’s a major impediment to getting real value from a technology that’s already providing significant returns for some companies.
Based on experience working with hundreds of clients, we find that organizations are most successful at implementing AI when they start by reimagining a core process, journey, or function (what we call a domain) end to end with the technology. In so doing, they can take full advantage of AI while reducing development time and costs and ignite an organic cycle of change throughout their organization for achieving their bold visions.
In this recent article, “Getting AI to scale,” published in Harvard Business Review, the author discusses in depth how leaders can apply this approach, and provide illustrative real-world examples. Here, are five steps leaders can take to get it right.
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