Top 10 tips to harness AI | Katie King | Engati CX
Katie King, Author of "Using AI in Marketing: How to Harness AI and Maintain the Competitive Edge" shares her top 10 tips on how to use AI.
Katie King is the CEO of AI in business. Additionally she is a Board Advisor, a published Author, and a Keynote Speaker on Artificial Intelligence (AI) and digital transformation.
She is a member of the UK Government All-Party Parliamentary Group (APPG) task force for the enterprise adoption of AI, and the author of “Using Artificial Intelligence in Marketing: How to Harness AI and Maintain the Competitive Edge.”
With over 30 years of experience, she has advised many of the world's leading brands and business leaders, including Accenture, PA Consulting, Orange, Arsenal Football Club, and Harrods.
Top 10 Tips to Harness AI - A Video with Katie King
Top 10 Tips to Harness AI
This section will contain a summary of our interview with Katie. But, if you’d like to listen to her speak, you can catch the entire video in the Spotify podcast embedded below.
What challenges do organizations currently face in harnessing AI and maintaining the competitive edge?
In Katie’s book, on the impact of artificial intelligence on business, the book is the views of major brands all over the world, small business, technology disruptors, academics, etc. Her methodology can be summarized into this scorecard of success.
1. Do you have the right mindset?
Do you have the right agile open mindset for AI? Or the right mindset to cope with any future technology change?
2. Do you have the buy-in from the management team?
Alternately, the right buy-in from the board.
3. Have you produced a business case?
Or are you just hoping on the bandwagon in a very tactical way?
4. Have you done proof of concept?
Have you done a proof of value?
5. Have you collaborated internally?
Interdepartmental collaboration is vital
6. Do you have the resources?
Do you outsource it? Or will you re-skill or you insource it? Ask yourself these questions before harnessing AI!
7. Is your culture ready for it?
This one is really important, and it’s a challenge a lot of people face when they want to embrace this kind of technology.
8. Are you innovative enough?
Are you agile enough to embrace this change?
9. What’s the wider business impact?
Like #7, this is also really important. Factors like, regulation, funding, transparency, and ethics need to be accounted for.
10. Is your roadmap in place?
Do you have a plan?
Ask yourself these questions, and then decide whether or not you're ready for AI.
What are some tips you have for business leader who are not prepared to deal with the increasing availability of data and the exponential growth of computing power?
Since the 1950s, the term “AI” has been used as a kind of buzzword. Sometimes it’s the talk of the town, sometimes it isn’t. She agrees, ten years of technology and social media has given us incredible amounts of data. And the decreasing cost of computing power has made emerging tech viable. Venture capitalists are now coming into the market, they get funding, and new startups launch. And all over, AI exists in almost every sector.
A part of the problem is they’re in this hype cycle of being an innovation trigger. Technology has become viable, but AI will die down in interest in a few years time. And following it will be new technologies, which comes with another hype cycle. We’ve been in this peak of inflated expectations for the past couple of years. But because our expectations are so high, we inevitably end up falling in what Katie calls a “trough of disillusionment.”
Here’s an example from Katie’s book
Say we have a bank, and they started to use Conversational AI, or chatbot assistance, which is great. However, they did not communicate this properly with their staff which resulted in fear. They were scared that their jobs would be taken away, and their clients found it gimmicky. AI didn’t do everything they thought it could do. They interacted with it, thought it was a gimmick, and then they got bored and moved on. So this was a huge failure.
Now, people have started to use AI in a more strategic way, rather than just buying it. Now we’re trying to understand the technology and thinking about why we need this tech, before investing in it. Which is another challenge in itself, how do we use this effectively?
Maintain that Competitive Edge
You’ve covered all of the points in Katie’s scorecard. You’re ready to harness AI to its full potential. All you need is a little push, and we’re here to take your business to the next level. Get started by exploring Engati’s AI offerings.
More tips on harnessing AI? Katie shares it all in this Spotify Podcast
She also shares what role AI will play in overcoming the pandemic, as well her views on the future of work.
Listen to the full interview here:
We hope you learned a lot about and about harnessing AI in this interview. Engati CX will be back with a new expert in a new episode soon. Stay tuned.
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