From ChatGPT to the Biden Administration’s recent roundtable on AI, artificial intelligence seems to be in the news every day. As artificial intelligence business applications continue to grow and AI further solidifies itself in the cultural zeitgeist, we must continue to have informed conversations about the technology.
That’s why we caught up with Brian Leimbach — founder of CIO Advise, a renowned business technology management consulting firm specializing in leveraging data and technology to enhance business processes, cybersecurity, and valuations — to get his ‘dos and don’ts of AI integration in business
Brian Leimbach’s Dos of Artificial Intelligence Integration in Business
Do: Determine what you need AI for. The first thing for any business that’s looking to implement AI is to determine what you want to use it for. What are the business objectives? How do you clearly define how AI can actually improve your business processes? You have to truly understand what you’re trying to achieve with the AI before jumping into it
Do: Start small. See how it works. Go from there. It is similar to marketing where you’re trying different strategies and tools out. Start with something relatively simple like chatbots.
Do: Get your data in order. AI relies on data, so its effectiveness depends on your data and how you manage it. Ensuring you have strong and clean data is absolutely necessary to do before getting started.
Do: Find the talent. You’re going to need the talent to interact with the AI tools. You have to train your employees on these tools or upgrade your talent to people who have done it before. Don’t be shy to invest in that. Do not underestimate the human element. The importance of having human judgment is especially important in this early stage of AI. Think of AI as a coworker that employees can leverage to better do their jobs.
Do: Be transparent. Be transparent with your clients and customers about how you are using AI.
Do: Maintain and accept feedback. Make sure you monitor how you are using these tools and analyze if you are getting the expected results. If you can get client or customer feedback then get it early and often.
About CIO Advise:
During pre-sale stages of investments, mergers & acquisitions, or due diligence, CIO Advise conducts comprehensive technological and business process analyses for target companies. The CIO Advise consulting process begins with executive interviews to understand challenges, followed by an in-depth analysis of business processes, software utilization, and financial health. Their recommendations encompass various aspects, leveraging popular business software solutions to facilitate integration, customization, data analytics, and AI utilization. By aligning systems, assessing technology capabilities, and considering financials and industry benchmarks, CIO Advise plays a crucial role in determining acquisition prices.
With the unpredictable trajectory of AI and its convergence with various markets on the horizon, the services of business technology management consulting firms like CIO Advise have become highly sought after.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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