10. Discovering Your AI Opportunity

So, are you inspired to go on an exciting journey with your company? Do you have ideas in mind where Artificial Intelligence can help your business? Now is the time to start working on the opportunity for your organization with Artificial Intelligence. It is a time to think beyond existing conventions, put some of your bias and fears aside and be open to experience a world of new possibilities. We have conducted numerous workshops on finding opportunities for Artificial Intelligence and we have experienced great results if people are open to new paths.

Before you start, it is a good idea to recall some important understanding about your company.

  • What is your long-term vision?
  • Who are your customers?
  • What problem are you solving for your customers?
  • Where do your customers struggle today?
  • Where do you struggle today?

We have observed on many occasion how opportunities emerge based on the unique history, positioning and talent of companies. It is their unique characteristics that define their unique strengths, which delivers them competitive advantages over other organizations striving to achieve similar goals. This is what you should leverage in the age of artificial intelligence. Play to your strengths, they have been the source of your success.

Let’s now look at two methods to start exploring your AI opportunity. We will start with the most conservative one, the evolutionary approach. It turns out to be the simpler of the two to execute, because all the building blocks are in place and proven by many companies. In essence it enhances your existing products and processes. Then there is the radical approach, likely to disrupt your current business approach and offering.

Fig. 10.1 Two approaches to discover AI your opportunity – evolutionary and radical

We will build on our prior case study of Tesla to illustrate some of the concepts but also add a lot of other examples for your reference. We have seen that they can be applied to almost any business out there, irrespective of industry.

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