Deploy successful AI strategies: Introduction

If you look at the list of the most valuable companies, you will notice some similarities:They are predominantly IT companies

• Most of them come from the West Coast of the United States (while China is rapidly catching up)
• All companies have established digital business models as their core business
• All of them make massive use of data analytics and artificial intelligence for their products and services and are technology leaders in this field

What can be gleaned from this? On the one hand, liberal economic policies in the western U.S. seem to be doing a lot right (although there seems to be an Silicon Valley exodus in 2021).

On the other hand, it’s remarkable that the biggest companies in the world are all going in the same direction: They are using data and AI models as a competitive advantage for their businesses.

In this article, I’ll leave out why and how AI will be the future of business and refer to McKinsey’s State of AI Report 2020 as an example.

In this blog series, I will show you in six chapters how to implement a (successful) AI strategy in your organization. In my experience, it is recommended to consider and implement such a strategy in six dimensions:

1. Data
2. Business Case
3. Data-Infrastructure
4. Know-How
5. Governance
6. Culture

While each dimension is encapsulated within itself, all aspects are necessary for your AI strategy to be successful. In upcoming posts, I will go into more detail on each dimension and explain the success factors for each.

The next article will start this series with the first chapter: Data!

This article was also published on tobiasfaiss.com