When will artificial intelligence really hit the business world and what considerations should be made?

The potential of AI and the impact it can have on competitiveness, productivity and innovation in both the private and public sectors cannot be overstated. It is no longer just a field of research or a futuristic concept, but a practical solution that can drive business forward. There is a common belief that AI can be used to improve decision-making processes, automate routine tasks and create new business opportunities. But introducing AI into a business is not without challenges and requires planning.

Here are five concrete recommendations for companies considering implementing AI:

The robust business case: Think carefully about what business benefits you want to reap from the introduction of artificial intelligence. Whether it is simply about increased knowledge and practical experience, or productivity improvements and competitiveness. Our advice is that there should be clear objectives for the top and/or bottom line and the advice is that these are quantified to specific business objectives with expected return on investment (ROI).

Promote adoption in the organization: Achieving the business goals requires broad adoption by employees. To achieve these, clear communication must be carried out about the business objectives and what is expected of employees in order to realize these gains. In addition, employees must be qualified to interact with artificial intelligence, which requires training and space for practical application.

Modified contract between man and machine: Companies need to recognize and adapt to the changing dynamics between humans and machines. AI will most likely change business processes and the way we perform tasks. There are sub-tasks that used to be carried out by humans that are now carried out by machines and it is about ensuring an environment where trust and cooperation between man and machine is created. In proprty.ai we work with the concept of 'Explainable AI', which ensure transparency and insight into how the predictions and answers to questions are generated by the artificial intelligence.

Strategic Technology and Supplier Choices: Choosing the right AI technology and supplier is crucial. Companies need to evaluate different AI solutions and platforms to find the ones that best match their specific needs and are scalable. As mentioned, this requires a rewriting of the contract between man and machine, and therefore it also requires focus on ensuring an easy and intuitive user experience for the employees in the technology selection. Thus, it feels safe, intuitive and playful to collaborate with the artificial intelligence.

Data Management and Security: Let's establish that you own your own data, period! and this must not be deviated from. At the same time, one must understand that the AI models develop on the basis of this data and it requires that you make demands on your supplier that the integrity of the models and the security of your own data remains its own.

Enjoy your journey into the world of artificial intelligence adoption!