Why Does Your Company Need an AI Strategy? And How to Create One?
By AI4Value CEO Hanna Kahanpää
The changes brought by artificial intelligence (AI) impact the daily operations of all companies and their employees. Employees are probably already using AI, whether the company actively supports it or not.
Uncontrolled use of AI may not be aligned with the company’s strategy, cybersecurity policies or other principles. If the company’s AI strategy, guidelines and employee expertise are not up to the required level, unplanned AI usage can cause concrete risks. In case the risks are realized, they may lead to financial damage and reputational harm. On the other hand, failing to adopt AI can give competitors a significant advantage.
It is time to create an AI strategy that enables the controlled and step-by-step adoption of AI. A well-designed AI strategy identifies and manages risks, optimizes and enhances operations and supports the company’s overall goals. It serves as a clear guide for employees in their daily work while also acting as a supporting element for business strategy by helping to determine where AI should be applied to improve business efficiency. Through an AI strategy project, companies can take control of their situation by developing an AI strategy tailored to their needs and corporate culture, which will guide and train employees accordingly.
The strategy can be developed using either a top-down or bottom-up approach, depending on what suits the company best.
In the top-down approach, company leadership first defines the objectives for AI usage, including strategic goals, business key performance indicators (KPIs) and operational targets. After that, the company assesses its current situation—how AI is already being used and what its AI readiness level is.
Alternatively, the AI strategy can be approached from a profitability perspective, identifying specific areas where AI could generate the most significant financial benefits. As part of these selected projects, the company evaluates its current AI usage and capabilities. Thereafter, it is natural to proceed with developing guidelines, and as an outcome the project results, new guidelines and enhanced expertise will form the basis for the company’s AI strategy.
Regardless of the chosen method, your company’s AI strategy is just waiting to be put into action. Ai4Value offers consulting services for AI adoption.
Contact us to schedule a free initial assessment at sales@ai4value.com — let’s build your company’s AI strategy together!