As part of IBM’s Win With AI Summit, we’re answering some of the most common questions about AI. Today, we tackle the most fundamental: how do we create an AI strategy?
Watch the video to learn the three-part process and what you’ll need to succeed with an AI implementation.
In NYC on September 13? Attend the Win with AI Summit!
Disclosure: I am an IBM Champion and my company, Trust Insights, is a registered IBM Business Partner. Any purchases you make from IBM may indirectly benefit me financially.
Can’t see anything? Watch it on YouTube here.
Listen to the audio here:
- Got a question for You Ask, I’ll Answer? Submit it here!
- Subscribe to my weekly newsletter for more useful marketing tips.
- Find older episodes of You Ask, I Answer on my YouTube channel.
- Need help with your company’s data and analytics? Let me know!
What follows is an AI-generated transcript. The transcript may contain errors and is not a substitute for watching the video.
As part of the win with AI summit today, we want to talk about creating an AI strategy. How do you how do you put together a strategy for artificial intelligence? Full disclosure, I have an IBM champion and my company we’re interest insights is a registered IBM Business Partner. So any purchases you make from IBM may benefit us financially
when it comes to AI strategy. The first and most important thing is what is the business school not? What’s the technology goal? What is the business goal you’re trying to achieve? Is it improving profits? Is it reducing workforce costs? What is the business outcome you’re after? If you don’t know that stuff, everything else and do not attempt to apply artificial intelligence to the problem. The reason for that is that AI is not a magic wand. It’s math right? It’s it’s math and statistics as
Probability technologies and they are very good and they’re very powerful. But they are still fundamentally just math, not magic. So you need to be very clear about what your goal is what you want to achieve.
Second, does the goal that you’re trying to achieve and be specific about it? Does it align with the core benefits of artificial intelligence? Remember, there’s three core benefits acceleration, accuracy and automation acceleration. You want results faster, if you know where you’re going, you’re know what you’re trying to do. You just want to get there faster. AI can certainly help with that. If you know where you’re going. And you know what you want to do, and you’re not happy with the quality of the work that you’re getting out of, say, lesser systems like human beings
accuracy, again, AI is math. So accuracy is something that machines are extremely good at finding and improving upon and third automation if everything is already laid out.
You have the processes in place, and you want them to be done by machine where and when possible. And there’s no weird gotchas or surprises or strange anomalies,
automation is that third benefit, and you will be able to do that with artificial intelligence.
If the business goal you’re after is one of those three, or even a combination of those three, then you know that artificial intelligence is going to be a useful road to travel towards achieving that business goal. So that’s the second layer. The third layer you need in your AI strategy is to map out
the Rumsfeld matrix, as it called, what are your known knowns, you know, what, you know, you know,
your data is, you know, what your anomalies are, if there are any, you know, the processes, that’s your known knowns, what are your unknown knows what don’t you know that you know, so, for example, what are the silos in your company? Where are all of the data stores have you have a complete
audit and inventory of all of your data do you have? Do you know what your governance is? Do you know what your staffing is like? Do you have your processes and procedures and everything documented out those your unknown knowns and companies have more of these than they think unless you are a one person company, you have unknown knowns and you need to solve for them first. And that is not an AI function. That is more of a data science data architecture information architecture function. So make sure you have that in place.
What are your known unknowns, you know, what you don’t know, you know,
where the gaps are new data, you know what parts of your data are unclean. You know what data you don’t have, that you might need to go get externally. And again, this these are the things that you’ll need to solve more with data science, then you will have the artificial intelligence. A big part of your API strategy is converting those unknowns into knowns, you do your audit inventory, your process, your governance, and your unknown unknowns to transform those unknowns.
knowns and unknown knowns you go out and you do data science and experimentation and exploration, exploratory data analysis and all this stuff to solve the, the, the known unknowns to learn what you don’t know that you need to know. And to transform that into known knowns. And finally, what are the gotchas? What are the really weird things? What are the unknown unknowns? You don’t know what you don’t know. And there can be a lot of these.
There can be things like biases in your data, there can be severe flaws in your data that can be macro conditions that are impacting your data that you may not even know about. So they’re unknown unknowns. You don’t know what you don’t know.
And this is something you have to keep an eye on throughout your AI implementation. What are those things you didn’t know that you didn’t know? But now you know, and then that transitions into known unknowns and unknown knowns and again, use information architecture or data science to solve for those
Once you’ve got all that done, and that is a lot to do, and that what I just talked about is probably 80 to 90% of an AI implementation, fixing your data and getting it ready for training. He would then choose the tactics, the execution, the vendors, the algorithms, the methodologies,
to solve the unknowns, and train and build training data sets on the knowns, you build your training data sets you need for things really for for the execution portion of an AI strategy. You need people which are both human beings and the knowledge and the talent that goes with them. You need to find processes for that implementation. You need a platform of some kind like IBM Watson and you need participation. You need buy in at all the levels in the company that are going to be impacted by the system
unless you are a company that is
is entirely staffed by people who only copy paste.
You’re not going to be getting rid of people. In fact, probably in the early days of an AI implementation, you’re going to be adding people because you need to bring in new talent and specializations that you don’t necessarily have available. So having that participation, having that buy in from the very top all the way down to the the day to day workers is going to be essential for making an NAIA implementation work well, so
that’s the strategy for creating a strategy goals,
alignment with the benefits and making sure that AI is the right choice for accomplishing those goals is the best choice.
identifying your knowns, identifying your unknowns, solving your unknowns and then rolling out in production to people to process the platform at with company wide participation or at least departmental live participation your AI implemented
My best recommendation if you are not
already, if you’ve not already done the foundation work is do something small, do something that is achievable, do something that is has a measurable benefit. And that is relatively straightforward to do
do something also that’s relatively low risk. So for example,
automating purchase order identification attacking and tracking to relieve accounting of the of the drudgery of categorizing receipts, right. image recognition is a very simple a function that artificial intelligence is very, very good at optical character recognition. And nobody loves reading receipts. Nobody loves reading and categorizing them sees this is a meal. This is a taxi. This is an Uber This is a an airplane tickets and hotel receipt, right? No one loves doing that
automate that process with higher accuracy.
faster results. And, and we’re moving that drudgery and you’ll see immediate benefits in a very small contained way that can then create by and for larger limitations Don’t try to automate the entire enterprise all at once it’s gonna be a miserable failure, use
AI at a tactical level to begin to show some early wins, get some immediate results and then elevate to to bigger and bigger functions. So
if you’re going to be in New York City, the week of September 13, which is the the week I’m recording this video, hope to see the wind with AI summit if you’re not catch the replays at IBM website. As always, please subscribe to the YouTube channel on the newsletter and we’ll talk to you soon. Take care
if you want help with your company’s data and analytics. Visit Trust Insights.com today and let us know how we can help you
You might also enjoy:
- iOS 14.5 and Marketing Analytics: How Concerned Should You Be?
- What is Ethics in Marketing?
- The Year of the Yin Metal Ox
- How To Break Down Marketing KPIs
- How to Think About Conversion Efficiency in Content Marketing
Want to read more like this from Christopher Penn? Get updates here:
Get your copy of AI For Marketers