CEO of the group, Omin. Investor in various B2B technology startups.
Following the Covid-19 pandemic, the increase in AI adoption has caused a seismic shift in operational strategies. Now, as businesses assess their vulnerabilities related to manual processes and heavy reliance on human labor, AI technologies such as natural language processing (NLP), large language models (LLM), AI generative technology (GenAI) and advanced hardware can enable them to streamline complex operations.
Looking ahead, the next decade promises transformative changes for businesses with AI streamlining tasks, improving personalization, and revolutionizing industries. That said, businesses today are struggling to implement AI for use cases that meet their needs.
In this article, I will examine how businesses can decide on AI use cases by mapping these use cases to the data-rich areas of their organization, assessing feasibility, and ensuring ethical compliance. Ethical AI, in particular, will play a crucial role in promoting fairness and transparency in its use.
Define AI use cases
While AI was present been around for decades, the high adoption of AI across various sectors can be attributed to several factors, especially following the global disruptions caused by the Covid-19 pandemic. The pandemic has prompted businesses to re-evaluate their operational strategies, highlighting vulnerabilities associated with a heavy reliance on human labor and manual processes.
Although the accessibility of cutting-edge AI technologies makes adopting AI simple, determining where to adopt it within an organization is actually quite complex. To overcome this obstacle, let’s look at a five-step framework for selecting AI use cases:
1. Determine which areas or departments in your company are collecting huge amounts of relevant data. Collect this list and compare these areas with business cases.
2. Assess the feasibility of these use cases, engage stakeholders and map high-level expected ROIs.
3. Understand the prerequisites for the most impactful use cases. Next, conduct a thorough feasibility study to understand the chances of success.
4. Start small and scale until each use case achieves the desired results.
5. Track and monitor these use cases to continue improving your AI adoption based on changing market criteria.
The importance of ethical implementation
At each of these stages, it is crucial to follow ethical practices and compliance standards for the use of AI in your industry. It is essential, at each stage, to consider the implications of data privacy, security And potential biases in AI algorithms.
For example, when implementing AI for recruiting, consider how to detect bias in algorithms because it can improve the organization’s hiring practices, but will also demonstrate a commitment to fairness, transparency, and diversity in the workplace.
Likewise, when using AI to streamline online shopping, be sure to prioritize privacy, transparency, and responsible use of data if you implement an AI-based customer personalization system. AI. When supplemented with opt-out options and user controls, these factors can increase the trust and security of digital commerce users.
These examples show how, when developed and implemented ethically, AI can be a tool for positive change, as can ensuring that the selected AI use case complies with relevant regulations And ethical standards.
Developing AI for the benefit of all
Over the next decade, the rise of AI promises transformative changes to everyday life. Automation will streamline routine tasks, thereby improving efficiency in workplaces. AI-powered personalization will tailor experiences, from content recommendations to educational platforms.
While these possibilities represent positive trends, it is important to note that ethical considerations, societal impacts, and regulatory frameworks surrounding AI will also shape the direction of its development over the next decade. Striking a balance between innovation and responsible use will be crucial to realizing the full potential of AI in a way that benefits society as a whole.
Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Am I eligible?
