4 Business Strategies for Implementing Artificial Intelligence
Artificial intelligence can improve any activity
Artificial intelligence (AI) is reinventing industry after industry. In China, AI is tutoring children in more than 1700 schools across 200 cities. In Australia, an AI created a flu vaccine that far outperformed all other existing flu vaccines. In the US, a machine-learning robot is autonomously cooking burgers. There are many incredible real world-implementations of AI. And now, with OpenAI’s recent ground-breaking language-generating algorithm called GPT-3, remarkably powerful AI solutions are pouring down like rain. Crafty developers have already deployed GPT-3 to autonomously write viral blog posts, generate web designs, and create role-playing adventures.
Machine learning technologies are more accessible than ever, but finding the business case for AI isn’t always straightforward. In this piece of writing, I would like to make AI business strategies more concrete by walking you through four AI strategies that you can use to improve any activity you could imagine. After walking through the four strategies, I’ll help you figure out which strategy to use for any given activity.
The Premise
But first, there is one central point to artificial intelligence that it is important that you understand: AI can empower any activity through either automation or augmentation.
- Automation is the removal of humans from an activity.
- Augmentation is the empowering of humans in an activity.
Automation and augmentation are opposite extremes, and few AI solutions are fully automated or fully augmented. Automation and augmentation is a scale that encompasses our four strategies.
- The efficiency strategy, in which activities are optimized through automation.
- The effectiveness strategy, in which activities are made seamless, enabling easier communication.
- The expert strategy, in which AI empowers decision-making.
- The innovation strategy, in which AI enables creativity.
