Artificial intelligence (AI) is a fast emerging technology and is predicted to have a major effect on future business growth. Research by Accenture on the impact of AI in 12 developed economies, forecasts that AI could double annual economic growth rates in 2035 by altering the nature of work and forging a new relationship between humans and machines.
Often businesses introduce AI with the aim of simply increasing productivity and reducing operational costs, however, businesses should consider a holistic approach to achieve maximum impact. Organisations should explore the benefits which can be achieved with the introduction of a range of smart technologies, including machine learning, into their processes and products.
Business strategy is critical
To ensure businesses achieve the full potential of AI they must review their strategy and key priorities, to adopt the most appropriate AI technology. Whether looking to automate workloads, optimise logistics or predict customer behaviours, businesses must align the AI project with their high priority challenges.
Those knowledgeable in AI, such as business analysts or data scientists, should work with a business champion to gain a broad range of business, AI and machine learning perspectives. Using a collaborative approach, the team can compile a list of the focus areas which will deliver tangible business benefits.
Demonstrate clear business benefits
To gain full engagement from across the organisation it’s important to provide a clear and comprehensive representation of the machine learning model, including the reasons and predicted results. Sharing the findings will instil confidence and trust in the business stakeholders that AI can deliver real business value.
Currently, there are a number of options to share the model’s findings such as analytics dashboards or embedded apps. Furthermore, recent techniques can provide concise explanations for complex machine learning algorithms such as deep learning. For example, Local Interpretable Model-Agnostic Explanations (LIME), Anchor, Integrated Gradients and Shapley. By adopting a combination of techniques, the model predictions can be clearly illustrated and easily understood by the business sponsors.
Empower your business
To realise the full potential of AI, organisations must equip their people with the right skills. This can be a major challenge for small or medium sized businesses, so it’s best to speak to a specialist company. At CTS our data experts help you shape your machine learning and AI strategy, pursue a specific machine learning goal and conduct experiments.
Alternatively, we can also provide machine learning training to upskill and empower your employees and take advantage of a new generation of products that simplify AI model development. For example:
- Cloud AutoML enables developers with limited knowledge of machine learning to train high-quality models specific to their business needs.
- BigQuery ML enables data analysts to quickly build and operationalise machine learning models.
At CTS we help a wide range of organisations to innovate with data, transform their business with AI and ultimately aid their business growth.
Find out how CTS can help your business improve with the power of data, machine learning and AI by contacting our team on 0161 871 0330.