Benefit your AI investments with this paradigm shift
Head of Delivery & Advice
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By now, we all witnessed the vast possibilities that ChatGPT and other large language models offer. They accelerated the growing potential of AI to an unseen speed and are delivering value as we speak.
Stating the obvious, a lot of hype has been created, and is now also capturing the attention of the C-suite. According to studies, 47% are seeing widespread adoption of GenAI in their organisation. 80% think GenAI is likely to transform their organisation's business. 61% of executives consider new-business building a top 3 priority.
In this article we explain why the time for AI investments is now. We share our strategic framework to use AI in business transformation, aiming to maximise your AI investments.
Why invest in AI now?
Back in 2017, the initial signs of AI delivering tangible business benefits started to emerge, marking its first significant turning point after years of diligent research. Now, we find ourselves at another crucial point, one that paves the way for the deployment of mature AI applications on a grand scale. This moment is part of a recurring cycle observed every 10 years, where a groundbreaking platform emerges and reshapes the tech landscape. From the era of personal computers to the advent of the web, the rise of smartphones, and the cloud revolution, each wave has reset industry standards. Today, generative AI stands at the brink, promising to be the next platform to redefine technology.
Disrupting your business or operating model with AI
We often see that the conversation around AI implementation often focuses on immediate benefits and specific use cases, potentially overlooking its profound impact on organizational processes. While understanding AI's application in achieving particular tasks is crucial, we at ML6 advocate for a broader perspective. We encourage exploring how AI can fundamentally enhance and streamline organizational processes themselves.
This approach aims to shift the dialogue from simply identifying tasks AI can perform to a more holistic/comprehensive view of how AI can transform the way your business operates. By doing so, we can uncover opportunities for greater efficiency, innovation, and strategic advantage, ensuring that your investments in AI not only solve immediate challenges but also contribute to long-term organizational resilience and growth.
By delving into the broader potential of AI beyond just its application in specific tasks, we can reveal transformative opportunities that enhance overall organizational processes. This isn't just about identifying tasks to automate or areas where AI can be applied; it's about rethinking and refining the entire workflow and systems. This comprehensive approach helps us pinpoint inefficiencies, bottlenecks, and areas primed for enhancement that might go unnoticed when focusing only on AI's impact in standalone scenarios.
Moreover, by embedding AI capabilities at the core of your processes, we ensure a seamless integration of technology across the organization. This fosters a strategic viewpoint, viewing AI not just as a tool but as a driving force behind the continuous evolution and innovation within your operations.
Our goal is to harness AI as a catalyst that drives your business towards operational excellence, ensuring you remain at the forefront of your industry.
Moreover, translating AI capabilities to the process level enables a more holistic integration of technology into the fabric of organizations. It encourages a strategic mindset where AI is seen as a catalyst for organizational evolution, driving continuous improvement and innovation across all facets of operations.
A strategic framework for using AI in business process transformation
To systematically evaluate AI potential on a process level, we propose the following methodology:
Expand beyond current roles and responsibilities
To truly exploit the power of AI in transforming your business processes, it's essential to extend your analysis beyond current roles and responsibilities. This involves a thorough understanding of the underlying tasks within your processes, along with identifying all decision-makers, whether they are individuals, teams, or digital tools. By delving deep into each task's specifics, we can uncover insights that pave the way for innovative solutions and strategic improvements, setting the stage for a more efficient and effective operational framework.
Analyze information and skill requirements
To effectively leverage AI in business processes, it's essential to assess the specific information and expertise required for each task, including the necessary data inputs and processing capabilities. This evaluation should distinguish between the current operational state and the future state you aim to achieve, with a particular focus on evaluating the role of human involvement and identifying opportunities for automation. This process not only highlights areas ripe for technological enhancement but also sets the stage for a strategic transformation toward more efficient and automated workflows.
Identify clusters for autonomous work
To optimize the implementation of AI in business processes, tasks should be grouped based on their similarities in type, requirements, and sequence, enabling the identification of opportunities for autonomous AI operation. Each cluster of tasks must then be thoroughly evaluated to determine its suitability for AI-driven automation, taking into account the specific structure and demands of the tasks involved. This strategic approach ensures that AI deployment is both effective and aligned with the organization's operational goals.
Prioritise AI implementation based on feasibility and viability analysis
To ensure the successful integration of AI into business processes, it's crucial to rigorously assess the technical feasibility and potential impact on the business of each task cluster. This involves a careful evaluation of whether current AI technologies are up to the task of automating these clusters, taking into account the availability of necessary data, potential integration hurdles, and the anticipated return on investment (ROI). This strategic approach enables businesses to make informed decisions on where to apply AI for maximum benefit.
By following this methodology, organizations can systematically assess and leverage AI potential at the process level, enabling informed decisions and strategic implementation of AI-driven automation and optimization initiatives.
Adopting this methodology allows organizations to methodically explore and tap into the transformative power of AI at a fundamental process level. It is essential making well-informed decisions and strategically deploying AI to automate and enhance operations. Through this approach, businesses can effectively identify opportunities for AI-driven improvements, ensuring that the adoption of artificial intelligence contributes significantly to process optimization and innovation across the board. This strategic framework is instrumental in guiding organizations toward realizing the full potential of AI in reshaping their operational landscapes for better efficiency, effectiveness, and competitive edge.