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Your investment in artificial intelligence (AI) has the highest probability of paying off if you can select a use case to apply it that already exists and where the data involved is digital, according to a report by McKinsey.
Michael Chui, partner at McKinsey Global Inc (MGI), told InformationWeek that “it’s hard to leapfrog to AI without moving to digital first because you need a lot of training data… Once you train your model, you need to be able to communicate those results throughout your network in order to achieve any kind of benefits at scale. The more digitized a sector is, the easier it is for superior insights to get past the first mile problem.”
Chui said that “the vast majority of the potential of AI is in increasing the performance of existing use cases where other types of analytics could already be used. The core parts of the business are actually where the core benefits of AI would be.”