AI Explained: A guide for executives
September 21, 2018
What does the C-suite need to know about AI?
C-suite executives need to have a deep understanding of AI, the value it can deliver, and how they should lead their organization through the early stages of adoption and beyond. Given the potential risks associated with AI, leaders also need to ensure that the right governance and controls are in place to allow AI to flourish in a responsible and ethical manner.
Why is it important for executives to understand AI?
CEOs across industries are showing a new urgency around adopting and scaling AI. Accenture predicts that AI-influenced revenues are projected to roughly triple between 2018 and 2024. With the rapid growth in AI expected in the coming years, C-suite executives need to understand that AI is the key differentiator that will keep their business competitive, profitable and resilient for years to come.
Can AI help executives with sustainability challenges?
AI can help executives tackle a wide range of sustainability challenges by improving performance against ESG metrics (environmental, social governance). Take environmental metrics as an example: AI can optimize procurement processes to reduce supply chain waste and improve profitability. It can also help monitor natural ecosystems and environments like the coral reef and recommend opportunities for preservation. When used strategically, AI has the potential to significantly reduce carbon emissions and positively impact communities and the planet.