3 ways businesses should prepare for the AI transformation

I recently came across an interesting article that I believe warrants a discussion. The article discusses the readiness of businesses for AI transformation. According to Cisco’s AI Readiness Index for 2023, only 14% of businesses worldwide are prepared to leverage and deploy artificial intelligence. This statistic is particularly concerning for European companies, who are struggling to train their employees on AI use and develop a clear strategy for responsible AI.

David Shrier, a futurist and leader of venture studio Visionary Futures LLC, says, “At the moment, businesses aren’t well-equipped to deal with AI. It’s not going as fast as it should.” Shrier suggests that businesses must build new skills, build processes to scale AI, and change their corporate governance to align AI ambition with practice.

So, what does this mean for us? Here are some points for us to consider:

1. Building Expertise: We need to ensure that our team, from the CEO to the employees, understands what AI can and can't do. This understanding will help us leverage AI effectively.
2. Establishing New Processes: We need to understand where our data goes when using AI tools and how to manage and prevent leaks and cybersecurity risks. This is particularly important as the article mentions employees using AI without their manager’s knowledge and even prompting tools like ChatGPT with confidential data.

I believe this is an important conversation for us to have as we continue to navigate the digital transformation. I encourage everyone to share their thoughts and ideas on how we can better prepare for the AI transformation.

Read the article: https://thenextweb.com/news/3-ways-businesses-should-prepare-ai-transformation