Turning AI Potential into Value

WeAce
2 min readOct 7, 2024

--

Businesses require a structured phased approach to unlock the full realisation of AI potential and deliver real ROI. Here, the government’s lead through initiatives like appointing an AI minister and AI-driven infrastructure sets the benchmark. Private companies must follow up on this lead by integrating AI in such systems where it will create real value.

Success factors include the ARC framework of augment, replace, and create. AI can be applied first to automating routine work that requires efficiency improvement by decreasing the cost and freeing resources for utilisation. Then, AI will replace outdated systems, enabling an organisation to acquire valuable resources for work that matters more to the business. Finally, the new value from AI is realised by creating new experiences, products, or improvements in business models based on real-time capturing of data and insights through AI.

Early wins for AI make a difference in enabling businesses to build confidence and hone their approach. They should adopt AI purposefully in line with specific business goals and clear, actionable outcomes. Then there are intelligent networks providing data analytics, which drives AI insights in every industry from sports to retail.

Instead, embracing the AI trend at the expense of thinking emphasises the underlying value AI brings and ensures sustained success for companies that tap its transformative power.

(Source — ArabianBusiness)

--

--

WeAce

A global talent development platform that supports organisations to be more productive, progressive and inclusive. Download our app: https://weace.page.link/app