The Secrets of AI Value Creation

UNLOCK UNPRECEDENTED LEVELS OF VALUE AT YOUR FIRM BY IMPLEMENTING ARTIFICIAL INTELLIGENCE

In The Secrets of AI Value Creation: Practical Guide to Business Value Creation with Artificial Intelligence from Strategy to Execution, a team of renowned artificial intelligence leaders and experts delivers an insightful blueprint for unlocking the value of AI in your company. This book presents a comprehensive framework that can be applied to your organisation, exploring the value drivers and challenges you might face throughout your AI journey. You will uncover effective strategies and tactics utilised by successful artificial intelligence (AI) achievers to propel business growth. In the book, you’ll explore critical value drivers and key capabilities that will determine the success or failure of your company’s AI initiatives. The authors examine the subject from multiple perspectives, including business, technology, data, algorithmics, and psychology.

Organized into four parts and fourteen insightful chapters, the book includes:

* Concrete examples and real-world case studies illustrating the practical impact of the ideas discussed within
* Best practices used and common challenges encountered when first incorporating AI into your company’s operations
* A comprehensive framework you can use to navigate the complexities of AI implementation and value creation

An indispensable blueprint for artificial intelligence implementation at your organisation, The Secrets of AI Value Creation is a can’t-miss resource for managers, executives, directors, entrepreneurs, founders, data analysts, and business- and tech-side professionals looking for ways to unlock new forms of value in their company.

The authors, who are industry leaders, assemble the puzzle pieces into a comprehensive framework for AI value creation:

Michael Proksch is an expert on the subject of AI strategy and value creation. He worked with various Fortune 2000 organisations and focuses on optimising business operations building customised AI solutions, and driving organisational adoption of AI through the creation of value and trust.

Nisha Paliwal is a senior technology executive. She is known for her expertise in various technology services, focusing on the importance of bringing AI technology, computing resources, data, and talent together in a synchronous and organic way.

Wilhelm Bielert is a seasoned senior executive with an extensive of experience in digital transformation, program and project management, and corporate restructuring. With a proven track record, he has successfully led transformative initiatives in multinational corporations, specialising in harnessing the power of AI and other cutting-edge technologies to drive substantial value creation.

MICHAEL PROKSCH is an expert on the subject of AI strategy and value creation. He worked with various Fortune 2000 organizations and focuses on optimizing business operations, building customized AI solutions, and driving organizational adoption of AI through the creation of value and trust. NISHA PALIWAL is a senior technology executive. She is known for her expertise in various technology services, focusing on the importance of bringing AI technology, computing resources, data, and talent together in a synchronous and organic way.WILHELM BIELERT is a seasoned senior executive with extensive experience in digital transformation, program and project management, and corporate restructuring. With a proven track record, he has successfully led transformative initiatives in multinational corporations, specializing in harnessing the power of AI and other cutting-edge technologies to drive substantial value creation. Introduction ix

Three Authors, Three Perspectives, One Framework xv

PART I VALUE CREATION POTENTIAL 1

1 The Journey of AI Achievers 3

2 Three Factors of AI Business Value Creation 19

3 Four Types of AI Value Creation 43

PART II OVERCOMING VALUE CHALLENGES 65

4 AI-Centric Elements 67

5 Collecting Valuable Data 91

6 Creating Actionable Insights 109

7 Building Stakeholder Trust 131

8 Managing AI’s Decision- Making 153

PART III ENTERPRISE INTEGRATION 179

9 CRAFTING AN AI STRATEGY 181

10 Leading Successful Projects 199

11 Cultivating an AI-Friendly Culture 229

PART IV REQUIRED CAPABILITIES 255

12 Technology 257

13 Data Management 277

14 Talent 305

Conclusion 335

About the Authors 337

About the Contributors 341

References 343

Index 373