Once limited to science fiction movies and conversations about what could be, artificial intelligence (AI) now has use cases that touch virtually every area of an organization. McKinsey Global Institute recently released a discussion paper that dives into the potential contributions of AI to the global economy and its impact on various industries. McKinsey estimates that about 70 percent of organizations will be using at least one type of AI technology by 2030. Increased adoption could add $13 trillion to the economy during that period and boost global GDP by 1.2 percent each year.
AI is an area of computer science that focuses on giving machines the ability to understand and respond to information and experiences as a human would. Of course, AI is a rather broad term and difficult to precisely define. Product recommendations from online platforms, voice assistants such as Alexa and Siri and robots in manufacturing plants are all using some form of AI. The McKinsey paper brings a little more clarity to AI by breaking it down into five areas, which we’ll define here.
McKinsey expects AI technologies to impact different industry sectors in different ways. For example, telecom companies have been quick to adopt AI, while healthcare is proceeding slowly. The more organizations pursue AI to drive innovation rather than reduce costs, the better the economic outcome. Not surprisingly, early adopters who apply AI across the enterprise rather than a handful of use cases will see the greatest benefit.
Organizations adopting AI first need to answer a few critical questions. Do we have the compute power, storage capacity, data, analytics and talent to support AI? What specific roles will AI play in our organization? What business value will AI deliver? How will that value be measured? Are we prepared to adapt workflows to take advantage of AI and embrace a more collaborative, agile culture?
Rahi Systems is determined to help you prepare your environment for AI adoption, and has all the resources necessary to get you setup. Reach out to an expert to get your data migrated, upgrade your storage plan, and improve your physical infrastructure.