Monday, March 27, 2023

Imperatives for Artificial Intelligence to Promote Business Agility

By Umme Sutarwala - May 10, 2021 3 Mins Read

Imperatives for Artificial Intelligence to Promote Business Agility

Many companies are now turning to artificial intelligence to transform their enterprises in an age of complexity and evolving competitive threats. Multiple tech companies are now using AI to develop their products.

Artificial Intelligence has the potential to provide significant tools to Promote Business Agility in maximizing the value of their data and knowledge. Since it is a complex business transformation, there are no quick fixes – resolving complex issues require meticulous planning and a well-crafted roadmap.

The best way to get started with an AI strategy that helps to Promote Business Agility, are as follows:

Must understand the business issues being solved with AI

Most of AI’s attention has been focused on software development tools that can build complex models. While it is critical for developers to understand how to build systems and applications, it is also important to identify the starting point and the problem businesses are attempting to solve.

Today, many organizations are focused on leveraging AI. There are short and long-term goals to be achieved. In the short term, businesses prefer to automate processes where they have a good grasp of the issues and the data involved. When it comes to the long-term goal, companies might want to use nuanced data and expertise to enhance their strategic business plan.

Also Read: Effective IT budget spending via cloud post-pandemic

Create a team of data scientists, knowledge specialists, and data experts

The most common mistake every business ends up making is starting their AI journey by hiring a team of data scientists. However, to get the most out of AI, organizations will need to hire a business expert who understands the business process and the critical information that sets the company apart from the competition. They should have a good understanding e of the business strategy and the underlying knowledge that makes the differentiation.

Putting together a team of data scientists, knowledge specialists, and data experts will help businesses take advantage of AI’s sophistication to gain a competitive edge. Also, the organization must hire a team leader who understands all of these responsibilities.

Concentrate on augmented intelligence

Human and machine collaboration is required when focusing on business outcomes rather than software development which is known as Augmented Intelligence. These hybrid teams create room for opportunities for revolutionary change.

The AI-powered system could also absorb massive amounts of data, analyze it, and using insights, recommend a course of action. In such a situation, however, a plethora of facts and complexities must be considered, and human experts with skills and understanding are ideally suited to comprehend data in context. All of this experiential experience is simply difficult to integrate into a framework. As a result, the true magic comes from integrating the complexity of AI-based technologies with human intelligence to process vast quantities of data.

Also Read: Can data services and cloud storage support development in the AI era?

The potential of hybrid teams

Businesses would be well prepared to succeed in the future if they have hybrid teams that understand the market vision, data, and fundamental AI technologies. The value of AI is determined not only by the complexity of the instruments but also by shifts in culture and processes. The key to achieving corporate resilience is augmented intelligence.

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Umme Sutarwala

Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain

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