Driving meaningful client value using AI

I recently participated in a webinar, hosted by Digital Hollywood, where I sat alongside other colleagues in the marketing and analytics space and provided a perspective on the transformative capabilities of artificial intelligence (AI) in driving real value for clients.

Here is a recap of the major themes that came up and my point of view:

Leveraging AI for Client Value Creation

Identifying the right entry point is the most important step in creating AI-driven client value. You must resist peer pressure and FOMO by keeping things simple and focusing on solutions that are fit for purpose. The first step involves a meticulous assessment of client needs and development of an actionable learning agenda. Identifying and comparing the value and feasibility of individual projects is also essential. I would like to emphasize that AI extends beyond mimicking human actions or language; it is a versatile tool for removing friction from processes and giving people the ability to spend more time thinking about how to improve the entire value chain instead of cranking out repetitive tasks.

Navigating Upcoming AI Trends

The discussion then shifted towards talking about upcoming trends in the AI landscape, highlighting applied AI and value-centric AI strategies. The ability to scale AI effectively is grounded in creating persistent data access in a?well-connected?technology infrastructure. Data forms the foundation for all AI initiatives. There will be a swift transition from code-first solutions to platform-based approaches with seamless no-code integration. It is important to understand that data automation plays a pivotal role in realizing AI's potential. We will move from looking at dashboards to extract insights to using them to track AI driven actions, validating those actions based on prediction scores then making adjustments as needed.

Balancing Innovation and Risk Mitigation

While AI holds considerable promise, there are several major concerns we need to be aware of when adopting these new technologies. For example, every time data moves, you introduce risk into the system. It's essential that your data strategy minimizes movement outside security thresholds as much as possible. Establishing safeguards for AI models, along with choosing suitable technology partners, is pivotal. The data and analytics field is very dynamic so you need to establish robust criteria for identifying partners with governance tech that can scale as you increase the use of these systems.

AI's Immediate and Enduring Influence

Applied AI is not some concept that is coming in the future because we have most of the pieces to start seeing massive transformational impact today. However, capitalizing on competitive advantages from AI require intentionality and immediate action to get the right infrastructure and tools in place. You will be most effective with AI by focusing on how it can be used to address your core competencies which represent the highest value to your organization and clients or customers. Avoid getting sidetracked by shiny new objects that aren't part of your core mission. The central goal, in my opinion, is to enhance our collective experience as humans by using AI to reduce friction from existing processes and identify more efficient and effective ways to solve problems. This requires ongoing experimentation and a culture of viewing data as a source of creativity.

By using AI as a catalyst for transformational change, the spectrum of possibilities for creating meaningful client value appears promising and limitless.

To watch the event, visit: https://www.digitalhollywood.com/ai-summit---session-eight