No business needs technology just for the sake of it. While some researchers may be focused on inventing new algorithms or elegant solution concepts, and the public attention may be geared towards some flashy examples of AI-created music or witty chatbots, the business journey in AI is, as always, a very practical one.
The challenge is to move quickly from the discussion of possible innovations to specific applications where AI creates measurable business value. As we have explored in our previous post
, using AI to improve the operational efficiency of already-existing processes can be a good way to start: such applications do not require capital investments or major process changes and thus yield returns fairly fast.
How should the specific areas to work on be chosen? It makes sense to review the known pain points – the same old major cost centers and sources of inefficiency or excessive waste – which can now be approached with a new toolset. The list below may help structure your thoughts.