Artificial intelligence, machine learning, predictive and prescriptive analytics, natural language processing and robotic process automation—whatever your industry, you’ve likely heard these words with increasing frequency over the last year.
CEOs have heard that artificial intelligence (AI) and its subsets can solve pressing business problems and are racing to get their hands on the technologies and the experts who can operate them. A study by SNS Telecom & IT predicts firms in financial services alone will invest $14 billion a year in big data technologies by 2021. But technology investments and data scientist hires are no guarantee of successful outcomes. CEOs also need to develop a strong foundation by embedding an understanding of AI throughout the company. In this white paper, we explore three factors that contribute to a successful AI culture: people, strategy and technology. Establishing a Center of Excellence (CoE) to support AI adoption is an important first step. A CoE centralizes AI expertise and takes responsibility for developing the blueprint for AI implementations and spur innovation and growth across the business.