Getting the most out of AI

Last week Deloitte Announced the launch of their Deloitte AI Institute, a centre to focus on artificial intelligence research, fame and applied innovation across industries.

Their plan is to bring together the brightest minds in the field of AI to apply cutting edge research to help address a wide variety of “relevant” AI use cases.

Now this could go one of 2 ways. 1 it could be a great success or 2 it could be like many initiatives that get exceptionally smart and technical people together. You see when theoretical concepts and research goes on it can be done in a space that is wildly different to the “real world”. What then happens is models and methods are created in this “idealistic” model of the world or “ideal business” and then they try and plonk these on top of businesses. Which just does not work.

You see for my clients who are looking at AI and technology to help their businesses they don’t care about R values or Chi Squared. They are just numbers nothing concrete or relevant to their experience.

For them its all about the business outcomes. Will I be able to cut my costs in half? Will I be able to increase my profits by 200%. Those are the values that matter. How they get there doesn’t matter.

For AI to truly make the impact it can within financial services there needs to be a focus on the business outcomes for the tech. The relationship between the business and the tech team needs to be on a level that I don’t believe many financial services companies have from my experience. Historically its been quite a them and us relationship.

To address this I have worked with my clients to truly embed a data led approach to be able to link up their strategies, goals and business outcomes to their data so they can not only track how well they are doing but also to highlight to every team how they are contributing. Removing the them and us relationship and creating a collaborative focused environment to all areas of the business.

And it is why I only work with AI tech that centres around business outcomes. Let us show you the value of this by showing you how much you will make or save. That is what's important to you not how accurate our R or Chi Squared value is.