5 Key Learnings To Set-up A High Impact AI?Strategy

How to get started and develop an AI Strategy in your organization that actually works. 

In our 1 hour webinar with Master Inventor and Fortune Global 500 advisor Neil Sahota who has helped more than 1000 organizations to build AI solutions and AI Expert Rudradeb Mitra, we talked how to get started with AI, what characterizes a high-performing team and how to build ethical and trustworthy A.I. Solutions. 

In the following, I share some of the key learnings of the webinar.

1. Forget about the AI hype

AI is not a secret sauce and requires lots of good data to create real value. 

Companies need to first separate the hype from the actual capabilities of AI, defining what AI means for them and how it might create value. Moving an entire company towards the adoption of AI is a challenging task and needs lots of educational effort. 

2. Start with the problem

AI is not the solution to all problems. Building products do not start with thinking about AI but finding a meaningful problem that once solved adds value for the customer or user. Many organizations fall into the trap of adding AI to their strategy without first defining the problem in detail. 

Alternatively, they think of something cool to do but without a specific problem to solve. Unfortunately, these approaches do not provide value. 

Focus on understanding the problem and the drivers behind it. Only once the problem is specified we can evaluate if and how AI can help to solve it.

3. Focus on creating value instead of ROI

In most scenarios, AI does not yield immediate benefits and ROI improvements. Creating tangible results requires experimentation and breaking with old and conventional thinking habits that are deeply rooted in many organizations. AI is a disruptive technology and with all disruptive technologies, there is an exploration phase and maturity phase. It is the decision of the company to be part of it or miss the accelerating AI train. 

Focus on solving a problem and creating value, then ROI will follow.

4. Build a diverse AI Team

AI talent and expertise are very scarce, meaning that it is even more critical to create a critical mass for AI within an organization.

You need people with the right skills and knowledge. This is more than having great technologists. Successful AI projects require business acumen, domain experts, and a variety of other stakeholders engaged in the development process.

5. Establish an AI Culture within your organization

Becoming AI-driven is not just about using technology. 

Everyone in the company needs to learn about AI. This brings transparency and increases trust. By reskilling the talent base an entire organization gets to understand the importance of data and how to integrate AI into their products and processes. 

However, not only internal members of the organization have to be educated. Users and customers give access to the data and need to be involved in the development process early one. This builds trust and brings valuable insights on how AI can create the most value. 

Where to start?

Think Big and Start Simple

AI models can be quite complicated. The training can take a lot of time and if the data is not high-quality, efforts will go waste. It is better to start with less ambitious projects, build up the knowledge and scale later.

In the short-term, focus on use cases with proven technology solutions and scale them, while in the mid-term and long-term, you can experiment with AI technologies that are emerging and yet immature to prove its business value.

Learn AI by Doing AI

At Omdena, our mission is to make AI available to organizations and enthusiasts across the world. Our motto is to solve real-world problems through collaboration and shared learning. 

Our Educational AI Challenges are tailormade to solve problems for organizations, boost internal AI capabilities, and give access to a global community of experts and juniors. 

Here is how a challenge works:

1. We help to define the problem that needs to be solved
2. We design the AI challenge and post it on our platform
3. We create a virtual learning environment involving our experts, juniors, your employees and other relevant stakeholders
4. We learn together, communicate frequently, and answer any questions in order to boost your AI skills while solving an actual problem
5. We deliver the AI model

We are proud to have a global community of more than 30 AI experts, 200 enthusiasts and developer from more than 25 countries across Europe, North and South America, Asia, and Africa. 

For more details visit our homepage.

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