Thread by @v_vashishta

MIT Sloan - “The survey also found that AI yields strategic benefits, but they mostly accrued to companies that use AI to explore new ways of creating value rather than cutting costs.” Let me explain why that's critical.
1/11
#DataScience #ArtificialIntelligence #Strategy

Translation: Our field is transitioning from cost savings to revenue generation. The business is looking for Data Scientists to lead the discovery of opportunities and deployment of new products.
2/11
#DataScience #ArtificialIntelligence #Strategy

“Those that used AI primarily to create new value were 2.5 times more likely to feel that AI is helping their company competitively compared with those that said they are using AI primarily to improve existing processes”
3/11
#DataScience #ArtificialIntelligence #Strategy

Translation: Internal efficiency and automation projects are common across businesses.
4/11
#DataScience #ArtificialIntelligence #Strategy

The highest returning projects are focused on value generation through new products, features, and automation that improves the business’s ability to scale.
5/11
#DataScience #ArtificialIntelligence #Strategy

“they were also 2.7 times more likely to agree that AI helps capture opportunities in adjacent industries.”
6/11
#DataScience #ArtificialIntelligence #Strategy

Translation: The “super-platform” has Machine Learning models at its core and multiple product offerings built on the platform. The models’ core capabilities span multiple use cases and industries.
7/11
#DataScience #ArtificialIntelligence #Strategy

Research artifacts, novel models and datasets, can be monetized multiple times for long-term growth.
8/11
#DataScience #ArtificialIntelligence #Strategy

This is where our field is challenged to produce next. Businesses expect revenue from their Data and Analytics Orgs. The pilot projects and prototypes are in the past. Internal efficiency is now moving down the priority list.
9/11
#DataScience #ArtificialIntelligence #Strategy

The easy work is done and we must quickly transition to generating free cash flow.
10/11
#DataScience #ArtificialIntelligence #Strategy

I build AI monetization strategies. For the last 7 years, I've helped clients achieve a higher rate of return on data science initiatives. A short session is the best way to get started: datascience.vin/ai-strategy
11/11
#DataScience #ArtificialIntelligence #Strategy