Enterprises are learning fast about the relevance and use of AI and Cognitive Computing platforms. Before adopting AI and Cognitive Computing platforms, enterprises must focus on designing the right strategy for their business. A data-driven strategy is very important to derive the maximum benefit from the platform that will help to interpret data and provide accurate business insights.
Here are the steps to consider before moving towards AI and Cognitive Computing platform.
1.Identify the right data sources. Each enterprise has its unique footprint with regards to customers, geographies, channels, and business priorities. What are the important data sources for gathering relevant information would depend on the business priorities and the stage of evolution of the enterprise.
2.Build enterprise systems to support data generation - Presence of enterprise systems like, ERP, CRM, and IoT ecosystem enables the need of adopting a Cognitive platform. The amount of data collected by ERP, CRM, and IoT can be directly fed into the platform and get actionable business insights. IoT ecosystems with its devices and sensors can constantly feed data to cognitive platforms, which will help the business take critical decisions at the right time. Presence of a well-established enterprise system demands for a platform, which is AI and Cognitive Computing empowered.
3.Identify KPIs influencing business processes. One of the most important factors for the success of any Cognitive Computing platform is to identify the correct set of KPIs for the enterprise. If an enterprise knows what it wants to achieve, it can accurately target data and interpret the findings.
4.Build a suitable IT infrastructure to store and maintain data. Most large and medium enterprises already have robust IT infrastructure that store data. For small enterprises, the investment in a suitable data storage and maintenance hardware or software is necessary.Enterprises should have adequate infrastructure and has managed large-scale data integration projects prior to deploying any AI and Cognitive Computing platform.
According to market research reports, global AI and Cognitive Computing market is expected to generate revenue of $13.8 billion by 2020. As the digital transformation disrupts the technology world, data will become the core driver of business decisions. Maintaining critical data and converting that data into actionable business insights plays a significant role for any organization. Thus, adopting a Cognitive Computing and AI platform will eventually become inevitable and preparing your enterprise to adopt such platform becomes a prerequisite.
Chief Digital Strategist at Marlabs Inc.,
Dileep is a visionary and strategist with more than 30 years' experience. He has served Fortune 100 clients and built large practices in Salesforce, CRM, Analytics, Social, Digital Business and IoT. Dileep comes from a distinguished career as SVP for NA Digital Markets at Atos, and VP for Digital, Social and CRM at Cognizant, prior to Marlabs. At Marlabs, he helps build the digital practice and drive digital agenda. Currently he is the Principal Digital Strategist at Powerfluence, a digital strategy consulting and advisory firm. In addition to helping construct our digital strategy and go-to-market plans, Dileep also works with the sales and account teams to uncover and close new opportunities in the digital space.