Recent statistics published in Forbes revealed that while 82% of IT and business decision makers agree that company-wide strategies to invest in AI-driven technologies would offer significant competitive advantages, only 29% said their companies have those strategies in place.
Why such a big divide? In many situations, it’s a simple lack of buy-in. In fact, Forbes Insights research also revealed that while 45% of IT stakeholders express “extreme urgency” regarding the application of AI within their organizations, only 29% see that same sense of urgency among their C-suite. Among the board of directors, that percentage drops down to just 10%.
Leaders who want to reap these benefits and advance AI within their organizations must overcome these odds by making a strong, solid business case around how artificial intelligence will deliver in terms of business benefits, such as operational efficiency, competitive advantage and revenue growth. Here are a few recommendations on how to accomplish this goal.
Illustrate success through real-life case studies.
There’s nothing more powerfully persuasive than a real-life story. C-suite executives and board members don’t want to hear about hypotheticals. They want to see numbers – quantifiable proof of ROI – before they’ll be willing to sign on the dotted line and invest in AI. After all, it’s pretty hard to argue against benefits like lowered costs, improved service levels and other key business advantages.
Demonstrate AI’s decision-making support.
One of the hardest parts of an executive’s job is making critical business decisions. If you can show them how artificial intelligence can address and resolve this major pain point, you’ll make believers out of even the biggest skeptics. Simply put, AI provides the ability to digest, process and analyze data to unlock invaluable insight and boosting confidence through data-driven decision support.
Position AI as the cornerstone to successful digital transformation.
These days, everybody’s talking about digital transformation. In fact, it’s widely believed that moving to digital operations and offering digital services will be absolutely essential in order to remain competitive in the modern economy. If you can position AI as the catalyst for making this happen, you’ll get emphatic yesses across the board. And since analytics is the core to what drives digital experiences, the connection to AI shouldn’t be too difficult.
Link AI with the power to innovate.
40% of IT leaders list driving innovation and implementing new tech as one of their top concerns. In today’s rapidly changing landscape, staying in-step is no longer enough. To remain competitive and achieve sustainable success, organizations must find a way to stay a few steps ahead. Easier said than done? Not when you have artificial intelligence in your corner. AI offers business leaders the opportunity to garner engagement from all levels of the organization, creating a truly collaborative environment where ideation and innovation thrive.
Reinforce the power of AI for optimizing client experience.
In business, you’re only successful if your customers are happy. Leveraging machine learning and artificial intelligence can help businesses to become far more responsive to their clients, ultimately delivering a better experience overall. And it’s a win-win, because not only do customers receive a higher level of service, but because AI frees up employees to focus more on high-value initiatives, the organization benefits from greater productivity. Happier clients + more efficiency = a better bottom line.
It’s important to point out that AI, just as with any technology, shouldn’t just be implemented for the sake of it. It should be leveraged because it’s the best and most effective solution to a specific business problem or opportunity. When presenting your case, be sure to tie the technology and its capabilities directly to these problems and/or opportunities, and demonstrate exactly who will benefit and how. This will make your case far more compelling and improve your chances of success.
Want to really wow those key decision-makers? Download your free trial of Ayehu, and you’ll have a full 30 days to create a use case of your own that will demonstrate quantifiable ROI within your own organization. Click here to get started!