AI projects

Identification of possible AI targets for developing business performance

Every development project must be based on the needs of the business. The most important thing is to get people involved! The application of AI starts with the identification of suitable business problems. The organization needs an understanding of the added value of artificial intelligence, the impact on business, and the support of senior management for the necessary organizational, business, or process operational changes. The key is to understand and outline the business benefits of artificial intelligence. In order to unearth a business benefit, one must be familiar with the company's data-producing systems as well as the management system.

 

 

AI can help in many things, but you have to remember the following: First, machines don't think. Artificial intelligence, for example, makes poems, but does not understand them. AI only processes strings but not meanings. Second, decisions made in society and in companies require the kind of human knowledge, vision, judgement and responsibility that artificial intelligence does not have. Therefore, they should not be outsourced to artificial intelligence.


What are you attempting to solve for? What is the desired outcome? Enterprises can employ AI for everything from mining social data to driving engagement in customer relationship management to optimizing logistics and efficiency when it comes to tracking and managing assets.

Examples of the problems AI can solve

Machine learning (ML) is used in finding a solution to many business problems e.g.

Predicting customer behaviour
Marketing campaigns
Predicting customer’s response.


 

Customer churn analysis (i.e., is the evaluation of a company's customer loss rate in order to reduce it. Also referred to as customer attrition rate, churn can be minimised by assessing your product and how people use it.)

Mastering data analytics (The business world is becoming data-driven and thus, more organisations are recognising the need for data scientists and analysts to help them.).

Self-reflection

Select three business problems and search the Web for examples of how AI can solve them.

Exercises

Exercise: Multiple choice

Which of the following problems could easily be the subject of a successful Artificial Intelligence project:
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