IN DETAIL: ARTIFICIAL INTELLIGENCE
AI is a Journey, not a Destination
How CIOs ensure the success of AI transformations. – By Pascal Bornet and Thomas Carlsen
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rtificial intelligence (AI) is revolutionizing the way companies do business. With AI, machines can now perform cognitive functions we associate with humans. Robotics, computer vision, language, virtual agents, and machine learning are all examples of AI technologies that are helping companies increase profitability and open doors to new markets. However, in a McKinsey Global Institute (MGI) survey of more than 3,000 senior executives worldwide, only 20 percent of respondents reported using AI-related technology “at scale or in a core part of their business.” One challenge to achieving scale is that many companies view AI as a technology play rather than as a key part of an analytics and digital transformation. In this context, how can CIOs achieve success beyond guiding IT to set up systems that support and enable AI technologies? While the recommendations below require coordinated efforts among an organisation’s CxOs, CIOs that take the lead or facilitate these initiatives can embrace the evolution of their role from business partner to a true transformational leader and help their companies realise the full potential of AI.
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1. Lead with an enterprise-wide vision Tactical AI initiatives intended to stitch up a broken process or address a short-term goal can deliver some productivity and cost-saving benefits. However, these siloed implementations often don’t offer the desired scale, impact and reach. Companies leading the way in AI set the tone from the top. MGI research shows that organisations that have successfully adopted AI report stronger leadership support from the entire C-suite – not just from IT executives and the CEO. Under the CEO’s mandate, the CIO and C-suite sponsor endorse an enterprisewide AI vision that’s formalised into a business case and implementation roadmap.
2. Create an AI leadership group to ensure governance Companies often ask us whether AI projects should be led by business or IT. Implementing technologies, such as AI-enhanced robotic process automation (RPA) or advanced analytics, requires detailed knowledge of business processes that only business users can provide. However, IT is typically at the forefront of technological innovation and has the experience to