AI is still a popular discussion point within companies and organisations, particularly since the popularisation of GenAI. Businesses are continually looking at ways they can use AI to help them efficiently reach their objectives. The use of AI means rethinking customer interactions and affects decision-making speed and recruitment strategies.
Deloitte researched more than 100 companies that use AI daily and came across a few characteristics that can be fine-tuned to aid other organisations start or progressing their AI journey.
Many companies struggle to effectively communicate their use of AI as a way to differentiate themselves. To improve, companies should align AI objectives with their overall strategy and explain how AI can help achieve those objectives. Focusing on high-value projects increases the likelihood of using AI. Furthermore, some employees may be interested in expanding their knowledge and receiving training to enhance their skills, making them even more valuable as the company embraces AI.
Forming hybrid teams with members from various departments and integrating key areas to collaborate on finding AI-based solutions can enhance the value of AI at a company level.
Effective data management is vital for getting value from AI, yet many companies underutilise their data. Developing a comprehensive data strategy allows the entire company to use AI to their advantage. Leaders should continuously seek ways to utilise AI to maximise the value of existing data, generate and acquire new data, and explore monetisation opportunities.
Cloud services, open-source libraries, and AI tools speed up the process of obtaining insights, but creating this infrastructure can be a challenge. To get the most value from technology, companies can partner with cloud providers and similar companies and by doing so, this gives access to advanced tools and can even empower employees.
On the note of partnerships, companies are partnering and working with external brands more and more to meet customer and market demands. A good and effective collaboration can aid a company to grow and strategise correctly. The hard part is trying to figure out the best way to partner and the approach to take. Companies can improve their AI potential by fully embracing the AI ecosystem and making use of partners’ unique AI skills, technologies, and capabilities.
Establishing AI ethics principles is important for creating trust among customers and employees. Nonetheless, many companies face challenges in effectively developing, implementing, and updating these guidelines. Through partnerships, the creation of these principles may be a lot simpler to do. To succeed, companies should ensure everyone understands and follows these principles, standardise procedures to use ethical AI in new projects and have a dedicated person or team responsible for ethical practices.
By making use of the above strategies, companies may be able to use AI’s capabilities to drive growth, efficiency, and innovation across all areas of their operations. If the whole organisation embraces AI in its everyday tasks, it will be one step closer. Through preparation, collaboration, and responsible teams, companies can position themselves for growth led by AI technology.
Sophie Muscat
Sophie is our Head of Marketing. She has a wealth of experience in marketing and communications, having driven strategic initiatives and managed direct communications.
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