g-f(2)93 THE BIG PICTURE OF THE DIGITAL AGE, Forbes, Understanding The Value Of Artificial Intelligence Solutions In Your Business.

Extra-condensed knowledge

Kamales Lardi is CEO of Lardi & Partner Consulting and a global award-winning expert in digital business transformation.

• There is still a strong misconception in the business world as to what AI is and how it contributes to the digital transformation of an organization.
• Vague, high-level strategic goals betray a lack of understanding of the capabilities of AI-based solutions and how it could really add value to businesses.
• AI should be viewed as part of the digital transformation journey of your organization and implemented only when it makes sense for the business goals that you are trying to achieve.

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Condensed knowledge  

• There is still a strong misconception in the business world as to what AI is and how it contributes to the digital transformation of an organization.
• Vague, high-level strategic goals betray a lack of understanding of the capabilities of AI-based solutions and how it could really add value to businesses.
• AI should be viewed as part of the digital transformation journey of your organization and implemented only when it makes sense for the business goals that you are trying to achieve.
• AI can be defined as the automation of cognitive processes. 
• The application of AI solutions supports organizations in several ways, including automation of redundant activities, digitizing processes, as well as fast analytics of data, particularly large data sets, and combining different data sets to gain rapid insights and knowledge that contribute to decision making.
• AI solutions enable scalability in an otherwise relatively inflexible traditional business environment. For example, scaling up hyper-personalized customer interactions and support with digital access points such as chatbots and virtual assistants.
• Based on a 2020 survey by McKinsey & Company, organizations are using AI as a tool for generating value, and these companies plan to invest even more in AI in response to the Covid-19 pandemic and its acceleration of all things digital.
• A recent report by Gartner found that only 53% of companies were able to move their AI proof of concepts to production.
• A Catalyst For Digital Transformation
• Digital transformation is a structural redesign of an organization and its value chain. AI systems are a catalyst for digital transformation, enabling automation, optimization as well as intelligent use of data to accelerate insights and improve decision-making.
• Instead of viewing AI solutions as a technology implementation, business leaders should focus on its capabilities and the potential business value that could be derived from its implementation. 
• How To Deploy AI Solutions In Your Business
• A starting point for any organization in AI solution deployment is to assess the current digital maturity of the organization, including the existing technology landscape and availability of reliable, verifiable data sources. 
• At the heart of AI systems are data, and this becomes a pre-requisite for AI solution deployment, particularly for any form of data analytics application.
• As companies look to accelerate the digital transformation journey with AI systems, it is critical to review the cybersecurity strategy to assess the risks you may be opening up to with new technology capabilities.
• Business leaders need to ensure that the right people and skills are available to define, implement and maintain the AI systems deployed. 

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from Forbes]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

• Inherited from sources + Supported by the knowledge of one or more experts.

Authors of the genioux fact

Fernando Machuca

References

Understanding The Value Of Artificial Intelligence Solutions In Your Business, Kamales Lardi, January 26, 2021, Forbes.

ABOUT THE AUTHORS

Kamales Lardi

CEO

Lardi & Partner Consulting GmbH

Europe

Kamales is a bold and strategic thinker in digital and business transformation. She combines deep experience of over 20 years in the digital space with a dynamic and current approaches to technology application. She often says, 'technology is not a silver bullet solution, a clear value proposition should drive any transformation effort'. This approach resonates well with many business leaders and has helped her stand out in the digital space. She has advised many multinational companies across various industries in Europe, Asia and Mauritius, including Cim Finance, UBS AG, Swiss Federal Railway (SBB),  Pfizer, Ernst & Young Switzerland, Aduno Gruppe, BonusCard AG, Berlinger Group, Sanitas Insurance, among others.