Getting The Most From Investing In AI

Artificial intelligence is often considered one of the top disruptors of our generation. It’s forcing companies to apply a business strategy that combines intelligent technologies with operating models and human talent to reach customers in new ways.
 
We’re already seeing these advances play out. According to the Accenture Technology Vision 2018 survey, 84 percent of business and IT executives agree that through technology, companies are weaving themselves seamlessly into the fabric of our everyday lives. 
 
Let’s examine the impact that AI is having on one sector in particular, communications and media companies. The value in store for the communications industry is especially strong: by 2035, AI has the potential to increase information and communication industry output by $1 trillion. 
 
Accenture Strategy research finds that industry leaders are recognising AI’s massive potential. For example, 72 percent of telecom executives cite AI as a top three business priority now, or expect it to be within one year. And 63 percent anticipate AI will drive additional revenue growth by accelerating the creation of new products and services. 
 
Beyond Implementation: An AI Business Strategy
To reap the full rewards of AI, mere implementation is not enough. Unlocking value will require organizations to deeply integrate AI into their business and customer strategy, so it can be unleashed to advance priority goals and drive growth.
It takes seeing AI as a strategic competency that works in tandem with human talent to solve complex challenges, break into new markets, diversifies revenue streams and accelerates operational efficiency. For some organizations, AI is already a public face of the business, handling everything from initial interactions via chat, voice and. 
 
At the same time, AI is also reshaping the role of communications sector strategists. Today’s strategists will need to closely collaborate with AI engineers and data scientists as well as become well-versed in algorithms and AI tools, which can help them with everything from surfacing new competitive threats, to identifying product opportunities or acquisition targets. And these strategists must come to play a central role in planning and iterating the investment strategy for AI. 
 
Most importantly, strategists and workforces at large, will need to reimagine their roles to work hand-in-glove with AI. 
According to Accenture Strategy’s Reworking the Revolution report, if businesses invest in AI and human-machine collaboration at the same rate as top-performing companies, they could boost revenues by upwards of 38 percent and raise employment levels by 10 percent by 2022. Business leaders must immediately prepare their workforces for an entirely new world where human ingenuity meets intelligent technology to unlock new forms of growth.
 
The Path Ahead
To scale AI, communications executives will need to seamlessly combine their AI business strategy with a bottom-up AI planning framework, as well as infuse AI into the strategy team itself. A few steps will be key: 
 
• Turn enterprise data into rapid insights. Telecom companies cite Big Data as the most important complementary capability to deploying AI. Modern AI feeds on numerous large data sets. Companies need a critical mass of AI competencies to rapidly exploit a comprehensive enterprise data inventory to fuel insights.
• Drive best-in-class AI execution. As AI adoption soars, advantage will rapidly shift from AI data pipes to best-in-class execution of top use cases. Our data finds as many as three in four telecom companies are already finding sufficient use case – a promising sign of progress. 
• Determine how AI can move the key levers in your customer strategy. Companies must promote organization-wide collaboration on AI using a cross-functional team, one who intimately knows the levers of its customer strategy. Leveraging Big Data, business strategists should join up with data scientists, operating teams, and R&D on AI use cases that can directly impact profitable growth. 
• Lead with AI in an ecosystem. Telecom companies should embed AI and cognitive intelligence as a “brain” at the center of the organization, so they can constantly learn from customers and the ecosystem. They should then use these learnings to increasingly automate the creation of new services. The better companies do this, the more likely they can become the center of a new ecosystem that expands to capture the value of adjacent value chains.
• Effectively resource bottom-up AI learnings to enable more exploratory AI prototyping. But don’t leave it at that – create an iterative feedback loop to apply those learnings to business strategy. This will be key to unlocking AI’s full value. 
• Foster AI-empowered innovation. AI is already helping solve a range of questions today. But companies should also be asking: “How can we use AI alongside human ingenuity to create what hasn’t been done before?” 
 
AI is already revolutionising the way communications companies engage with and target customers. We must now go a step further. 
 
Navigating the headwinds of new competition and industry disruption will require industry players to put AI on the frontlines of business strategy, and reimagine the role of traditional strategists, so they can seize on AI’s power to advance business goals and unlock new forms of growth in parallel. Today’s pioneers will be tomorrow’s winners.
 
Information-Management
 
You Might Also Read:
 
Real-Time AI Gets Close To A Brainwave:
 
Artificial Intelligence Will Reshape Banking:
 
 
 
 
 
« Why Are So Few Women In Cybersecurity?
Your Next Bank Card is a Finger-Scanner »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

BackupVault

BackupVault

BackupVault is a leading provider of completely automatic, fully encrypted online, cloud backup.

Clayden Law

Clayden Law

Clayden Law are experts in information technology, data privacy and cybersecurity law.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

4Secure

4Secure

4Secure is a cyber security company providing services and solutions to counter and respond to the most sophisticated and targeted cyber threats.

SK-CERT

SK-CERT

SK-CERT National Computer Computer Emergency Response Team of Slovakia.

Australian Cyber Security Centre (ACSC)

Australian Cyber Security Centre (ACSC)

The Australian Cyber Security Centre (ACSC) brings cyber security capabilities from across the Australian Government together into a single location.

Computing Technology Industry Association (CompTIA)

Computing Technology Industry Association (CompTIA)

CompTIA is dedicated to advancing industry growth through its educational programs, market research, networking events, professional certifications, and public policy advocacy.

M2SYS

M2SYS

M2SYS is a worldwide leader in identification and authentication solutions.

Angoka

Angoka

Angoka provide hardware-based solutions for managing the cybersecurity risks inherent in machine-to-machine communication networks.

astarios

astarios

astarios provide near-shore software development services including secure software development (DevSecOps), quality assurance and testing.

Research Institute in Secure Hardware and Embedded Systems (RISE)

Research Institute in Secure Hardware and Embedded Systems (RISE)

The UK Research Institute in Secure Hardware and Embedded Systems (RISE) seeks to identify and address key issues that underpin our understanding of Hardware Security.

Network Intelligence

Network Intelligence

Network Intelligence are a global cybersecurity provider offering services across 6 broad spectrums - Assessment, BCMS, GRC, Professional Services, MSSP & Training.

CyberUK

CyberUK

CYBERUK is the UK government’s flagship cyber security event and the authoritative event for the UK’s cyber security community.

Lattice Semiconductor

Lattice Semiconductor

Lattice Semiconductor solves customer problems across the network, from the Edge to the Cloud, in the growing communications, computing, industrial, automotive and consumer markets.

Across Verticals

Across Verticals

Across Verticals is a boutique cyber security consulting firm that specializes in holistic, deeply technical and end to end cyber security advisory services based on industry best practices.

Quatrro Business Support Services (QBSS)

Quatrro Business Support Services (QBSS)

QBSS is a tech-enabled outsourcing firm that’s changing the way companies think about finance, accounting, human resources and technology services.

Tsaaro Academy

Tsaaro Academy

Tsaaro Academy is a unique privacy certification training platform and here you earn a privacy certification like CIPP, CIPM, CIPT, ISO, and DPO from India’s No.1 Privacy training platform.

TAFEcyber

TAFEcyber

TAFEcyber is an Australian based consortium focusing on the skilling of the fast-growing cyber security workforce through education and training.

Theta

Theta

Theta is a New Zealand owned technology consultancy. Our team of over 330 experienced professionals help organisations transform with technology.