How AI Can Transform Companies
AI’s effects on companies
Accenture CEO, Julie Sweet, in a contributing piece for Fortune Magazine, writes that artificial intelligence can reshape companies and redefine their industries.
“AI unlocks business value by changing what you can do in fundamental ways, from enabling new human-plus-machine ways of working and smarter systems to creating new products and services.”
According to Sweet, two years ago, most companies were starting to play around with artificial intelligence. For example, some of them used the technology to improve customer services. However, only a few companies implemented it on a larger scale.
Companies that invested in AI early on grew ahead of their competition after the COVID-19 pandemic. AI even became “a way to survive” for some companies. For example, a retailer based in the U.S. used AI technology to aid their post-lockdown strategy. This included identifying areas such as:
- when/where to reopen stores
- which merchandise to carry based on changing consumer preferences
- how to revise pricing
- which promotions would be most effective online or through brick-and-mortar sales channels
An AI Playbook
Sweet writes CEOs need an AI playbook—which includes these four strategies:
Sweet concludes her piece by writing that “tapping into the best of technology coupled with human ingenuity” will allow CEOs to “lead business into a new era of responsibility and possibility.”