I recently had the opportunity to undertake an AI executive education program at the Kellogg School of Management. This program in particular was targeted towards executives seeking to leverage AI to drive innovation and performance within their organization.
Something quite interesting, which we discussed in the program, is that many fortune 500 companies are still in the exploratory phase when it comes to the adoption of AI. However, according to a predictive survey published by PwC, it is expected that US firms will harness as much as $16 trillion in value from these automated platforms in the next decade; suggesting quite the shift just around the corner. With this in mind, it becomes quite clear why executives are returning back to academia to better assess and understand the potential.
What I found within the Kellogg program, as we delved deeper into foundational technical elements, data strategy, implementation frameworks and the ethics of AI, is that there were five overarching principles for me to take back. While these principles at first glance might appear straightforward, once unpacked, they become quite complex in nature.
My Five Takeaways
#1: Framing the Problem
AI is truly about thoroughly understanding, defining and overcoming business problems; the better we frame the problem, the better we can tune and optimize our model.
#2: Establishing Clean Data
80 percent of the work is about the data. Invest in data normalization / integrity and in automating the process (RPA) of how data is captured.
#3: Starting Small
Think big (enterprise), but start small; becoming more sophisticated through iteration.
#4: Elevating Human Talent
Work towards a hybrid model where the primary focus is leveraging AI to empower teams, elevate human talent and operate with the highest level of ethics.
#5: Aligning to Readiness
Understand your organization's AI readiness and adoption curve, evolving engagement, workforce design and the technological approach accordingly.
Invaluable Moments
I truly want to thank the faculty as the content covered, and level of delivery, was truly outstanding. While there were several great moments, two in particular will remain unforgettable.
Dr. David Ferrucci, the acclaimed lead developer for IBM Watson, taking time to meet with us and discuss the future of AI.
I can say with confidence that this was the first time I've been on a task team where an AI bot has been assigned - let alone actively (verbally) contributing to the conversation, keeping us on task and supporting our delivery (not kidding). Thank you Vera!
