PWC: Six key points businesses must consider for AI in 2019

It is already an established fact Artificial Intelligence (AI) is seriously changing human behaviour by automating actions.

Within the business environment, AI has giving machines more power and reduced the need for manpower, thereby improving service delivery and reducing costs and overheads for entrepreneurs,

Many business watchers have insisted that in the years ahead, AI will play a more advanced role in various sectors of the economy.

As 2019 pushes on, how will AI shape business activities?

Well, leading global financial consultants Price Water Coopers (PWC) says AI will impact on business operations in six ways:

  1.  Structure: PWC argues that pressure will grow to scale up AI in 2019 to enhance decision-making and provide forward-looking intelligence for people in every department and function. The right AI governance model enables you to develop use cases that create quick wins — while also providing reusable tools on which other AI initiatives can build.
  •  Workforce: AI is being democratized, but it’s still so complex that even trained business specialists can make mistakes. Develop the right mix of citizen users, citizen developers, and data scientists — and give them the tools, training, and incentives to help them work collaboratively.
  •  Trust: Customers, employees, boards, regulators, and corporate partners are asking the same question: Can we trust AI? To answer that affirmatively, assign accountability for fairness, interpretability, robustness and security, governance, and system ethics.
  •  Data: AI can help companies manage risk, make better decisions, improve document classification, automate customer operations, and more. But first, prioritize what many survey respondents didn’t: label, standardize, and integrate data to train AI. Only then can AI find patterns in the present and provide insight into the future.
  •  Reinvention: Boosting the top and bottom lines with AI is not a distant dream. AI’s power can help businesses create and market high-quality, personalized, data-driven products and services. Companies can use AI to help with strategy, invent new business models, and eventually transform their organizations
  • Convergence: AI’s power grows when it is integrated with other technologies, including analytics, the IoT, blockchain, and, eventually, quantum computing. DevOps techniques can help manage this convergence by bringing diverse specialists together to keep projects flowing smoothly.