Artificial Intelligence

AI Thought Framework

Evaluating AI?

As a business executive or industry veteran, you are always evaluating new emerging opportunities to get ahead of your competition. Machine learning and artificial intelligence (AI) are one such opportunity you may be considering. The most important question to ask is: “when do I consider applying AI to a business problem?”

Many industry leaders have started investing and integrating AI into their business. Bloomberg wire saw a 1000% increase of 4th quarter transcripts mentioning AI over the past 2 years! To help you get started, we have put together an AI Thought Framework to help you understand, identify, and scope valuable AI opportunities in your business.

Onenigma AI Thought Framework

AI is all about asking data the right questions. If you answer yes to the following questions it may be worth considering an AI solution:

1. At its core, is the identified business problem manual, repetitive, time-consuming, or labor-intensive with high-value to the organization?

Building a robust AI is an investment and does not happen overnight. Choosing the right high-value problem to solve will help ensure a large return on your investment.

2. Does the identified business problem have a process or workflow that generates and captures data?

AI can only answer valuable questions if you capture valuable data. Often as part of the AI development process additional data collection is added to existing workflows.

3. Is the result of the identified process or workflow clear and objective?

The most feasible applications of AI today have clear, objective results that you want to optimize. For example, increasing the accuracy of a labor-intensive workflow or decreasing the total cost of a repetitive business process.

Taking Next Steps

With these questions in mind, think about your internal business processes like back-office operations and internal logistics. Each of these processes hold enormous business value and generate large amounts of data. 

 

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