Are you getting the most from AI and data technologies?
Do you know where it will lead your organisation?
Map or Compass
If people were to think about being lost and given the choice between having a map and having a compass, I suspect many would choose the map – perhaps assuming they’ll be able to orient themselves on a map. However, if the scenario is being lost at sea, or in a wilderness with limited features to guide you the value of the compass starts to outweigh the map.
Where to start
As an innovator looking to make the most of technologies like Artificial Intelligence (AI) & Machine Learning (ML), do you see a clear pathway to value for your business? Some organisations opt for following the market and buy into the technology where solutions already exist (E.g. Customer buying patterns, using chatbots etc.). While this helps you keep up with the competition in the short term it does not provide a sustainable competitive advantage. (we’ll do what everyone else is doing). One counter to this argument is that maybe that AI as a technology is so new and fast moving that there is not yet a clear map on how to drive value from it. Getting it wrong could be very costly in time and money for your business. Yet we know innovation is not risk free, so faced with this dilemma how does an innovator know where to start their journey?
Where to go
Despite the lack of a tried and tested map, there are signs of the general direction of travel such as making better use of data, improving predictions. This is helpful, but perhaps does not address the question ‘how do we get there by the best means?’ Where are the best opportunities to apply this technology, how can I leverage all this data, what can I confidently predict and how will this turn into value for my business.
Accepting that these are fast moving technologies in what seems like an uncharted territory, work taking place at the Hartree Centre over the past 3 years with over 20 businesses in a range of industry sectors that has provided unprecedented insight into where and how these technologies can be applied to give the greatest value. In effect – a first generation map and compass for early adopters of AI. Cambium has been one of the navigators on this journey.