AI ADOPTION IS A JOURNEY, NOT A DESTINATION
Evaluate, Benchmark and Strategize your AI Readiness
The word “Artificial Intelligence” coined in 1956 at a conference at Dartmouth College, in Hanover, New Hampshire. The Artificial Intelligence [AI] applications have evolved over multiple decades with help of significant technology innovations. Some even call it the fourth industrial revolution.
The pandemic has accelerated the AI journeys of enterprises across the globe. We see increasing levels of AI adoption across industries and financial investments. Early AI adopters realizing competitive advantage and expect AI-powered transformation to happen for both their organization and industry.
Mostly all adopters are using AI to improve efficiency; mature adopters are also harnessing the technologies to boost differentiation. Using AI for automation and optimization can provide significant benefits, but organizations should work to move beyond these objectives by leveraging AI in functions & decision, create new products & services, improve customers / employees experience.
AI has become a necessity more than a luxury as it begins to have a considerable impact on business outcomes. The use of AI has also truly transformed the business landscape and has taken the top spot as a strategic priority for 2021.
The challenge for organizations is how to leverage AI in a way that produces optimum results and competitive advantage. The way forward will ultimately be determined by AI readiness and capabilities, in other words, its level of AI maturity.
The AI journey for organizations is often met with a multitude of challenges such as data acquisition & storage, lack of technology knowledge, non-availability of talent, ethical challenges, data governance issues, culture, decision making and leadership commitments etc. Overcoming those hurdles may seem struggling at the start, but with the right strategy, execution, and mindset, enterprises can achieve meaningful business outcomes.
The journey to AI maturity
Today there is great variation in where organizations are placed on their journey to AI maturity. Some have already committed with a defined strategy and solutions of some kind in place, some are still experimenting with new capabilities, and some have integrated AI into their products/services & created differentiated business models. Many more are at an earlier stage altogether, formulating a plan of action or even wondering how to take the first step. But to move forward and benefit from all AI has to offer, organizations need to understand their development needs and their readiness for AI in relation to their strengths and weaknesses.
NASSCOM came up with one of kind AI Assessment framework to help organizations all size and type to understand the critical imperatives to build AI journey, address the challenges and actionable insights to move up the maturity ladder consisting of 4 key stages such as Explorer, Enthusiast, Expert and Evangelist.