“Companies need to begin their transformation with a strategy, road map and vision specifically designed for automation. This involves business modeling, competitive threat analysis, current readiness and technical design. Determining the level of AI maturity and readiness is important — assessing not only the organization’s existing processes that can be automated but also the processes needed to support automation.”
Keith Strier EY Global and Americas — Advisory AI Leader
Just because 75% of enterprises plan to implement AI should you rush in where angels fear to tread? Most organisations are woefully unprepared for automation because the do not consider automation in the bigger picture of vision, strategy and the customer. It is one of the elephants in the room.
There is no such thing as a standalone AI technology stack. It is a part of the overall digital platform you should have, the data management stacks that are vital .
Learn from brutal fact. It will take longer and cost more than you think to automate and adopt AI. So you had better know why you are doing it, how best to implement, how to change the organisation and adapt/adopt and follow best practice.
EY has some good tips but first What are we talking about?
"Automation and AI are actually a spectrum of machine-based intelligence that can be applied to solve business problems ranging from rote operations to complex interactions. Machines now have the ability to perform cognitive functions associated with human thinking — perception, reasoning, learning and problem-solving. Add robotics, computer vision, conversational intelligence, virtual agents and machine learning into the mix and you have a challenge that impacts your sector, your business model, your employees and your customers." EY
Disruption is speeding up from chatbots to handle the increasing flow of customer counteractions fast and effectively, through self-driving and electric vehicles changing the nature of transport to robots manufacturing irrevocably.
You might not deploy AI for two years but you must plan today f you are not to be left behind.
Ignore the hype; humans are still the vital ingredient but do ensure you have an effective and realistic strategy that addresses the impact of automation on: -
- Business Strategy
- Partners/Contractors/Supply Chain
Elevate your automation strategy across the enterprise. Set the flag and road-map and share it with everyone. Determine what you are automating and why. Commission an automation-focused competitive sector analysis. No good just being a me-too. You must deliver a competitive edge.
Accept that disruption is a constant reality and what got you here today will not get you there ( the strategic destination) tomorrow.
The Bottom Line
Automation is a business-of-the future play according to EY and only a fool would deny that. But it needs a strategy today.
Start with a vision based on your purpose and what/how customer will buy in the future. Apply a laser focus on the customer.
Create a culture of innovation and remember that humans are the essential ingredient. If you are going to automate 70% of predictable and repetitive decisions how will you equip your people with the skills and resources to make the 30% of more complex and unpredictable decisions?
Finally chose a technology partner that can: -
- Show industry/segment expertise
- Solves the priority challenges and opportunities your strategy defined
- Can deploy quickly and evolve with you
- Targets the whole value chain rather than a partial solution
- Delivers solutions rather than tools
- Gets out of the high CAPEX and rising cost model- eek subscription or transaction based commercial models
Good luck but don't rely on luck. And if you are concerned a competitor is gaining an automation jump on you read "7 Ways to Tell if an AI Company is Lying About Using AI".
They’re the looming issues everyone would rather discuss another time. The questions yet to be asked — by a person willing to ask them. Where’s the elephant? focuses on vital business issues that are not being openly discussed in terms of their urgency and impact. Whether in the room, on the horizon or thundering in a massive herd toward the C-suite, this is where elephants get talked about. Want to learn where the elephant is when it comes to automation? Take five minutes to find out.