8 thinking-points for your AI-strategy
AI is both exciting and challenging. While there may be a feeling, that AI could be useful, there is also a lot of confusion about it. The 8 points below summarize some of the challenges, we often encounter and how we think about them. We hope they can help you in your own thinking.
1. AI is a means to an end. The objective is not to get “an AI”. It is to enhance your business. It is always useful to start with WHY. Why do you need AI for your specific business?
2. You may not know exactly in advance how AI can transform your business model. Running many smaller experiments with AI-solutions is not only a way to build AI-capabilities at low risk. It is also a way to assess the impact on your business model. This helps you sharpen your WHY. (see Discovery-driven digital transformation)
3. AI is not a one-off investment. It is an infinite process of learning and adapting and adding new capabilities. (see AI is an infinite game)
4. AI is not one thing. It is a toolbox, where each tool has a purposeful use. You can use a hammer to force a screw into the wall, but you will get a better result with a drill, a rawlplug and a screwdriver. Same for AI. Pick the right set of tools.
5. In-house development? Consultants? AI-enabled software as a service? There are several paths and it is not necessarily one or the other. The choice of AI-tools and the methods of development and implementation are linked. Collaborations can help you access a broader range of capabilities, not only regarding technologies, but also with respect to business models, implementation and costs.
6. There is no generalized AI. This means that all AI solutions will be specialized for specific tasks. This also means that the overall AI-capability of your company will consist of a growing collection of specific AI-capabilities in the different parts of your value chain.
7. Not all problems call for an AI-based solution.
8. Not all data will lead to meaningful AI-implementations.
In Acumex we offer software solutions as a service centered on the trading steps of the value chain. They can be AI-enabled or not depending on needs. With AI-enabled solutions, you do not need to have huge amount of data or a team of data scientists at your disposal. Everyone can play.
Find more inspiration in our Simple Ideas About-series here.
Reach out to us for a conversation about your AI-strategy (see contact info in footer 👇).