Integrating artificial intelligence (AI) into business operations is no longer a futuristic concept but a pressing reality. As enterprises strive to stay competitive, the question of how to make space for AI becomes increasingly critical. Implementing AI isn’t just about adopting new technology; it requires a strategic overhaul of business processes, mindset, and resources.
Understanding the Imperative for AI
AI has proven its potential across various industries, from exciting advancements in drug discovery and disease research in healthcare to streamlining supply chains and logistics in transportation. However, many business leaders remain skeptical of the real business value of AI. After all, the crescendo of hype around AI often feels like past technologies that were once the subject of breathless reporting yet never found widescale adoption. Think of technology like Virtual Reality, the metaverse, and Google Glass.
What makes AI different for businesses? One way that AI is different from previous flashes in the pan is that it has the potential to stand apart due to its profound impact on every level of business, and for businesses of all sizes.
Knownwell Chief Strategy Officer Pete Buer aptly dispels the myth that AI is only for tech giants. “The beautiful thing about AI is that there are many low-code, no-code, low-cost, and AI-as-a-service applications that don’t break the bank. This absolutely enables small companies to compete against larger ones at a reasonable cost.” He emphasizes that AI tools can provide small businesses with competitive advantages previously reserved for larger corporations.
Prioritizing AI Amid Existing Workloads
One of the biggest challenges organizations face is accommodating AI initiatives within existing operations. Business leaders often find themselves consumed by daily operational demands, leaving little room for exploring new, complex technologies like AI that may rely on vast quantities of data and many rounds of experimentation.
Mohan Rao, Knownwell’s Chief Product Officer, sympathizes with this predicament, acknowledging the daily operational “hurricanes” businesses navigate. He suggests a structured approach to integrating AI: “If you are ambitious, you have to, one way or the other, create a 70-20-10 formula or a 4DX type, wildly important goals. However you do it, you’ve got to make space for AI.” This structured approach helps businesses allocate resources effectively, ensuring that AI initiatives receive the attention they need without compromising existing operations.
Strategic Implementation of AI
The successful integration of AI into business processes requires a strategic approach. Knownwell CEO David DeWolf highlights the importance of taking the long view when it comes to AI and not being shortsighted: “The decision you make today not to improve your environment will undermine your ability to actually ever get ahead,” he says. “It’s like that cartoon where the caveman is using the wheelbarrow with the square wheels and doesn’t have time to put the circular wheels on.”
Businesses must start with pragmatic examples where AI can save time and more effectively utilize resources. This not only demonstrates AI’s value but also builds confidence within the organization.
6 Practical Steps to Making Space for AI
If your team or organization is struggling to find time to undertake AI initiatives on top of their existing responsibilities, here are 6 steps you can take to get started without increasing their workload.
- Evaluate Current Processes: Assess existing business processes to identify areas where AI can add value. Look for repetitive, time-consuming tasks that AI can automate.
- Set Clear Goals: Define specific, measurable goals for AI implementation. Use frameworks like the 70-20-10 rule to prioritize experimenting with AI initiatives without neglecting core business operations.
- Start Small: Begin with small, manageable AI projects that demonstrate clear benefits. This will help build momentum and provide learning experiences that can be applied to larger projects.
- Allocate Resources: Dedicate a portion of the budget and human resources specifically for AI initiatives. This ensures that AI projects receive the necessary support to succeed.
- Build Skills: Invest in training and development to equip your team with the necessary skills to work with AI. This includes both technical skills and an understanding of AI’s strategic implications.
- Foster a Culture of Innovation: Encourage a mindset that embraces change and innovation. Highlight successes and learn from failures to continuously improve AI integration efforts.
Making space for AI in the enterprise is a strategic necessity that requires careful planning and execution. By understanding the imperative for AI, prioritizing initiatives, building trust, and taking practical steps toward implementation, businesses can harness the power of AI to drive growth and innovation. As AI continues to evolve, those who effectively integrate it into their operations will be far better positioned to lead in the digital age than their competition.
Learn More
For more, read key takeaways from our AI Knowhow episode, How to Make Space for AI in the Enterprise. You can also watch the full episode via the embed below or directly on YouTube. And you can listen on Apple Podcasts, Spotify, or wherever you get your podcasts.
