To take full advantage of AI,
leaders must embed AI into their business strategy
and their transformation, and they need to change
their operational models.
Our recent Executive Perspectives edition
summarizes key actions leaders need to take very proactively
to make the most out of AI.
First, develop a clear perspective
of where AI will make a true difference
and drive business outcomes in your company.
That means linking AI to your overall business strategy.
Second is to treat AI
as a true business transformation lever.
Releasing value requires AI to be rooted into business;
that requires to redesign collaboratively and iteratively
business processes to optimize the human-AI interactions.
And don't forget the 10-20-70 rule.
To make money with AI, 10% of the effort
is about building algos, 20%,
linking those algos into technology,
but 70% of the effort
is around business process transformation.
Third, learn from the best ones, the digital natives.
This means changing your operating models
to increase agility, continuous reimagination
of business processes, and effective orchestration
of external ecosystem for companies to play and partner in.
Fourth, address the expected talent gap shortage.
Proactively consider AI talent
in your strategic workforce planning,
develop internal upskilling programs
and rethink the employee value proposition
to retain your best talents.
Do not just focus on external hiring.
Fifth, decouple data capability built from core IT,
and to do so, embed flexibility through reshoring
and iteratively modernizing.
Finally, invest as early as possible
in responsible AI to make sure
you address ethics and transparency concerns.
They are real, and you need to deploy governance policies,
standards, tool, processes,
to make sure you comply with the higher standards
for responsible AI.
We at BCG are very excited about the prospects for AI
in the years to come.
AI will drive long lasting transformative impact
across all business sectors all over the planet.