Overview / Preparing Your Roadmap Project
AI technologies continue to expand their capabilities to perform human tasks, gaining interest from companies that seek to invest and embark on a transformational journey to improve the efficiency and effectiveness of their operations, products, and services. Before adopting these new technologies in their organizations, it is critical for leaders to understand what AI and automation can do, the benefits they provide, and the challenges / limitations that can be encountered. Studying the successes and failures of early adopters provides a blueprint for preparing a roadmap to enable a successful transformation.
- General principles of automation (i.e. what it is vs. what it is not)
- The difference between AI and automation
- The current state of AI and automation in the enterprise
- Differentiators for successful AI and automation enabled transformations
- How to prepare a roadmap that will ensure a successful transformation
The need for AI and automation is growing due to the common need for companies to innovate and disrupt their way of business to increase market share. There are a variety of AI and automation software, services, and solutions available in the market. While it is important to pick the right technology for the job, the combination of solution providers and skilled resources is central to a successful transformation. Understanding the technology and resource skill set will further support the development of a roadmap that drives the transformational journey.
- The types of automation and AI technologies in the market
- Common industry terminology
- How to identify the correct technology and vendor software
- How to further refine the roadmap to achieve AI and automation goals
AI in Marketing and Sales
For the last 25 years, digital technology has quietly revolutionized marketing and sales. But AI might make even bigger changes in the next few years. Marketing and sales have always needed the human touch—and they still do. But AI has the ability to automate some tasks that could be performed only by people in the past.
AI won’t take away the jobs of marketers and salespeople; however, the ones who risk losing their jobs are the ones who won’t use AI themselves.
- How to analyze data to find your best customers
- Using emotions for customer segmentation
- Determining the best marketing message for each customer
- How to automate lead scoring
- Calculating lifetime value for customers
AI for Customer Service and Customer Experience
Customer service and customer experience are increasingly important ways for brands to differentiate from the competition. The problem is that truly top-notch customer service is frightfully expensive, which is why most customer service is mediocre—or worse. AI can improve customer service and customer experience at a lower cost, which can prove a game-changer in many situations.
- How data privacy regulations affect customer data collection
- How chatbots and smarter search answers customer questions
- How to use social media listening to predict brand health
- How to improve customer journeys
AI and Finance
Artificial Intelligence is impacting many industries, but perhaps none greater than financial services. From access to credit to robot advisory, insurance pricing and financial forecasting, AI has been making major strides in this industry for the past ten years, with industry-altering expectations in the near future. The technological and information transformations occurring in financial services will leave many bellwethers out of the game, while giving new startups the chance to take considerable market share. Companies that adopt AI and become efficient with its application may gain a sizeable advantage over competitors.
- Identify the areas in finance where AI is showing its most transformative impact
- Understand how to learn from, and gain a competitive advantage, using AI efficiently
- Spotting and addressing some of the ethical challenges with respect to AI
AI in Supply Chain
Artificial Intelligence (AI), along with other advancements in data analytics, has been changing how supply chains are managed nowadays. In a recent McKinsey survey, 63% of executives surveyed reported revenue increases and 44% reported cost savings from AI adoption in the business units. As many businesses are at the turning point of adopting AI in their supply chains, it is critical to study successful applications and key challenges. It is also helpful for business leaders to understand the people factor and risks associated with the transformation.
- Understanding of AI, machine learning and data analytics, and when to use them
- AI applications in supply chain functions (procurement, planning, warehousing, logistics, etc.)
- Challenges and risks of adopting AI, especially for small- and medium-sized businesses
For an overview of our Mini-MBA: Artificial Intelligence program plus program benefits and outcomes, please click here.