While many people perceive artificial intelligence to be the technology of the future, AI is already here. Many companies across a range of industries have been applying AI to improve their businesses — from Spotify using machine learning for music recommendations to smart home devices like Google Home and Amazon Alexa. That said, there have also been some early failures, such as Microsoft’s social-learning chatbot, Tay, which turned anti-social after interacting with hostile Twitter followers, and IBM Watson’s inability to deliver results in personalized health care. What separates the AI projects that succeed from the ones that don’t often has to do with the business strategies organizations follow when applying AI. The following strategies can help business leaders not only effectively apply AI in their organizations, but succeed in adapting it to innovate, compete and excel.
