The buzz around AI and its huge potential is causing organisations to rethink their approach to business itself – or risk being left behind by their competitors.
From automating time-consuming manual processes and improving employee experience, to improving user efficiency and simplifying trend analysis, the use cases are plenty. But how do you ensure you’re maximising the benefits of AI for your organisation?
An annual study led by McKinsey reveals that two-thirds of organisations are now using generative AI (gen AI) to support operational processes, nearly double the percentage from the previous year. That’s a remarkable surge in adoption over a short period of time, which suggests not all businesses will have laid out a detailed strategy before investing heavily.
It requires careful planning to map out the areas in which AI will have the biggest impact on your operations, and it isn’t limited to gen AI either. Being able to distinguish between the capabilities offered by different AI tools is crucial to understand which systems are worth investing in.
This guide is a good starting point if you’re looking to develop a deeper understanding of the value that AI could bring to your business, and form a strategy to deliver it.
Build your business case
Start by answering the big question: why AI?
Operational needs differ from business to business, so you’ll need to get a clear idea of the most pressing challenges facing your company. That means taking stock of your current workflows and systems as part of a comprehensive audit to identify pain points, process inefficiencies, customer demands and growth barriers to identify the use cases for AI.
The aim is to clarify where your existing capability is lacking and where your internal controls could be improved. For instance, you may find your HR team is being swamped with admin enquiries on a daily basis, or managers are spending hours manually analysing data and creating reports.
The process of flagging up these inefficiencies is crucial before you begin to consider new technology investment – which is precisely where a lot of businesses are going wrong with AI.
Top businesses take time to forecast the impact of new systems on pre-established key performance indicators and core strategic goals. That puts them in a strong position to estimate the return on investment (ROI) of AI and how it might save time, cut costs or open new revenue streams.
Get your data in order
Investing in AI isn’t just a question of acquiring the latest tools. Any success you hope to deliver hinges on first having a robust data management foundation in place.
Even the most advanced AI systems are useless without the accurate, clean and readily accessible data that fuels them. The quality and quantity of your data plays a huge role here, and the more diverse and comprehensive the data you have at your disposal, the better AI can perform.
The problem is that organisations often face data silos where information is scattered across disconnected systems, making it difficult to sync changes, protect version control and maintain a single source of truth at all times.
Data formats and definitions should be standardised and labelled correctly, whether information stored in your CRM, ERP or any other system.
Embarking on an AI project will allow you to gain a better understanding of any gaps you have with data management and you can then look to address them at the same time.
It’s also important to be aware of the new data security challenges that AI creates, which is why a strong governance framework is key to ensure data integrity and confidentiality. Make sure to define ownership and accountability for specific datasets, as well as updating policies for collection, usage and storage which comply with the latest GDPR guidelines.
Make the benefits tangible
With most of the foundational prep done, you should have a clearer picture of your most pressing needs and challenges. Now you can start looking at how AI might be able to solve them.
Remember that gen AI is just one of the many tools available. From predictive analytics to natural language processing and machine learning algorithms, different AI programs are designed to address specific challenges – so choosing the right one for your needs is key.
It’s a good idea to start small. One of the best ways to demonstrate AI’s value is by running a pilot project or proof-of-concept. Think of these as mini experiments designed to show how AI can solve specific challenges in a controlled environment and to highlight the use cases that will deliver the best return. A small-scale test reduces risk and allows you to gather measurable data that demonstrates real ROI.
For instance, a retailer struggling with inventory management might use AI tools to forecast demand for a handful of products. The results could reveal savings in overstock costs, improved sales through better stock availability or other tangible benefits which pave the way for further investment.
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Prepare your staff for change
AI has the potential to fundamentally change many existing job roles, enhancing productivity by automating repetitive work. Tasks once handled manually might now require employees to shift their focus to more strategic or creative activities.
Some people will naturally have reservations about the introduction of new systems, which is why clear communication about any forthcoming changes is essential to ease concerns and ensure a smooth transition ahead of launch.
The discussion around AI should form part of a wider culture around continuous learning, development and innovation. Staff should have continual access to training and resources designed to get them up to speed with using AI tools as part of their job; whereas project managers should prepare for continuous evaluation and iterative tweaks to AI initiatives based on performance metrics. Training to help users create the right prompts will deliver better results and increase adoption.
Overlooking these aspects can quickly lead to resistance, inefficiencies, or even a failure to realise the full potential from your AI investment.
Where can AI make the biggest difference for your business?
No matter at which stage of the AI journey your business finds itself, our expert team is here to weigh up your options and map out a strategy to deliver tangible results – whether that’s improving productivity, saving admin time, reducing costs or maximising new revenue opportunities.
