How to win fast and first with AI
March 5, 2020
Last year I wrote a LinkedIn post titled “how not to train an employee”. Some of it was a little tongue-in-cheek, but I touched on the need for a framework to deploy artificial intelligence (AI) responsibly—finishing by saying “it’s the right thing to do.” There’s no doubt, getting ready for AI isn’t the same as deploying it fully across the business. Accenture research shows that many executives know that it’s scaling AI that’s going to make the difference, not only to how they compete, but also how effective AI is within the organization.
In practice, companies still find it difficult to think about AI a critical source of business value rather than “shiny new tech.” But our latest research “AI: Built to scale” finds that there are sound economic reasons why they should take it seriously. Companies in our study that are strategically scaling AI report nearly three times the return from AI investments compared to companies pursuing pockets of proof of concepts. For those of you who’d rather see that in terms of real-world numbers, successful scaling could see an average lift of 32 percent on Enterprise Value/Revenue Ratio, Price/Earnings Ratio, and Price/Sales Ratio.
It’s a convincing argument and one that is not lost on the leadership of my own company. I thought it might be helpful for us to take a look at some of the findings from our scaling AI research and how we’re addressing them in our own back yard:
AI is a key part of our overall strategy to transform Accenture into an intelligent enterprise—we’ve written helpful guides and even books on how companies can make that happen. In our own organization, we have:
We can see that as businesses extend their robotic capabilities into the open world, they will have to hire new talent and work with the public to ensure a smooth transition. We are doing this through:
Regulation and ethics are top of mind for an organization of nearly half a million people. We stick closely to the European-initiated General Data Protection Regulations (GDPR) and have mandatory privacy and security reviews on all projects. We have ethics in mind though our use of:
Through our EI Studio, every project is value assessed and we use metrics, not only to assess return on investment, but also to track progress through the lifetime of the project. We help to make companies’ AI vision a reality using Applied Intelligence (AI plus data, analytics and automation) and we steer our own path through:
As my colleague Dr. Athina Kanioura notes in her blog on the topic, now is the time to scale your AI. I hope my walk through of what Accenture is doing to scale AI has given you some ideas to move forward with your own AI journey.