Applying AI: How to find and prioritize AI use cases

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Questions and Answers

What is the main point of Cassie Kozyrkov's advice about AI?

  • To avoid all AI deployment in internal processes
  • To prioritize AI use cases based on their potential impact (correct)
  • To focus on the sci-fi aspect of AI
  • To solely rely on successful AI prototypes

What is a common assumption about selecting successful AI use cases?

  • It does not involve practical implementation hurdles
  • It guarantees successful prototypes without any challenges
  • It is similar to selecting application areas for Big Data (correct)
  • It does not require any prior experience in digital programs

What are some of the challenges mentioned for AI deployment in internal processes?

  • No involvement of customer data or willingness to pay in the sales process
  • Failed prototypes and great initial demos
  • Practical implementation hurdles, scaling failures, and maintenance escalations (correct)
  • Glitches turning customers off

What is not the inevitable collateral damage of applying a disruptive technology like AI?

<p>Glitches turning customers off and drawing out the sales process (D)</p> Signup and view all the answers

What is a comprehensive AI strategy composed of?

<p>AI vision, AI portfolio, and enabling factors (B)</p> Signup and view all the answers

What does the author recommend before starting the process of defining and prioritizing AI use cases?

<p>Empowering the team with at least one 'Introduction to AI' workshop (B)</p> Signup and view all the answers

What is considered when developing a comprehensive AI strategy?

<p>Alignment with the overall strategy, AI vision, and machine learning sophistication (C)</p> Signup and view all the answers

What is crucial before starting any AI-related initiatives in well-prepared companies?

<p>Conducting an 'Introduction to AI' workshop (A)</p> Signup and view all the answers

What is a key element of a programmatic approach to leverage AI for a company?

<p>Thorough preparation and use case ideation (B)</p> Signup and view all the answers

What is a common trap for teams when beginning to work on AI application areas?

<p>Wasting time on marginal AI application areas (A)</p> Signup and view all the answers

What is recommended before embarking on prioritizing use cases when it comes to AI maturity?

<p>Completing an efficient online AI Maturity Assessment (A)</p> Signup and view all the answers

What should the focus be on for process-centric AI use cases at a high level?

<p>Company processes, either internal or at the interface with customers, partners, or suppliers (B)</p> Signup and view all the answers

What is the critical input for assessing to what extent more sophisticated AI applications can be implemented efficiently and add value?

<p>AI maturity (D)</p> Signup and view all the answers

What is considered as the soil for AI algorithms and a source of inspiration, as well as a source of frustration in assessment and implementation?

<p>Data availability (C)</p> Signup and view all the answers

What is the major difficulty involved in implementing an AI use case according to the text?

<p>Availability of required know-how (D)</p> Signup and view all the answers

What are the important aspects that can increase the effort or decrease the value substantially during the AI implementation?

<p>Regulatory and/or ethics flag (B)</p> Signup and view all the answers

What is the purpose of using a customer journey map in AI implementation?

<p>To visualize each step of the customer interaction and use of the product or service. (A)</p> Signup and view all the answers

Which AI capability involves analyzing, interpreting, and learning from data representing physical systems and controlling its behavior?

<p>Robotics and Control (B)</p> Signup and view all the answers

What is an example of a new analytics capability in AI implementation?

<p>Forecasting (A)</p> Signup and view all the answers

What is the purpose of Computer Linguistics in AI capabilities?

<p>To process, interpret, and render text and speech. (C)</p> Signup and view all the answers

What is a critical consideration when assessing AI use cases?

<p>The level of detail in the description of the use case (C)</p> Signup and view all the answers

What should be considered when assessing the feasibility of a use case for AI?

<p>The availability of data sources (B)</p> Signup and view all the answers

What is emphasized as a key factor in overcoming the 'AI divide'?

<p>Familiarity with AI technologies and data infrastructure (B)</p> Signup and view all the answers

What is recommended for capturing the outcome of the ideation phase?

<p>Utilizing opportunity space cards (A)</p> Signup and view all the answers

Why is understanding all possible sources of data important for AI use cases?

<p>To identify unique data assets for potential use cases (A)</p> Signup and view all the answers

What is the purpose of the 'Return on AI (ROAI)’ calculation mentioned in the text?

<p>To ensure an efficient utilization of limited resources and maximum return on the corporation’s AI portfolio (A)</p> Signup and view all the answers

What should be differentiated when calculating use case returns, according to the text?

<p>Internal and external value generation (C)</p> Signup and view all the answers

What is important to consider when assessing investment expenditures for AI applications?

<p>Account for the required interdisciplinary roles across the application life cycle and estimates of the development and implementation time (C)</p> Signup and view all the answers

What is emphasized as a critical consideration in the assessment of AI use cases?

<p>The time horizon and discount rate on which the ROAI evaluation is based (D)</p> Signup and view all the answers

What is a major challenge for companies when quantifying and measuring the actual value contribution of AI initiatives?

<p>The qualitative nature of many of AI's benefits (B)</p> Signup and view all the answers

What is a key difficulty for companies aspiring to become AI-first industry leaders?

<p>The uncertainty of exploratory approaches combined with the interweaving of data and learning algorithms (C)</p> Signup and view all the answers

What do companies across various industries and geographies concur about AI?

<p>AI holds tremendous value potential for businesses, the economy, and society (D)</p> Signup and view all the answers

Why does quantifying and measuring the actual value contribution of AI initiatives present a major challenge for companies?

<p>Because many of AI's benefits are qualitative in nature and have uneven payouts (A)</p> Signup and view all the answers

Which of the following is an example of improved resource consumption in AI applications?

<p>Automating the filing and documentation of invoices (D)</p> Signup and view all the answers

What is an example of increased speed of operations in AI applications?

<p>Reducing downtime through predictive maintenance (D)</p> Signup and view all the answers

Which scenario represents improved access to information and decision making in AI applications?

<p>Retrieval of detailed information about specific models and similar-looking watches (D)</p> Signup and view all the answers

What is an example of risk reduction through AI application?

<p>Analysis of documents to calculate credit scores or identify fraudulent patterns (C)</p> Signup and view all the answers

How can the algorithm benefit a fashion retailer in terms of markdown optimization?

<p>By reducing the amount of discounted stock using ML methods to optimize merchandising and mark-down effectiveness (C)</p> Signup and view all the answers

How can the algorithm impact the creation of new business models?

<p>By enabling the creation of new business models through intelligent, resource-sensitive network planning (B)</p> Signup and view all the answers

What is a potential benefit of the algorithm for an online retailer offering tailored product offerings?

<p>Increasing profits by improving customer satisfaction and imposing higher sales prices (A)</p> Signup and view all the answers

How does the algorithm contribute to demand forecasting for a comprehensive network of charging stations?

<p>By providing recommendations based on an extensive variety of factors such as energy grid and traffic routes (C)</p> Signup and view all the answers

What should be taken into account in the Return on AI (ROAI) calculation, as illustrated in Figure 5?

<p>Both the costs saved through the application and the costs incurred through falsely predicted or classified events (A)</p> Signup and view all the answers

What does a false output in predictive maintenance cases lead to?

<p>Unnecessary repair work (A)</p> Signup and view all the answers

What is a common challenge for AI beginners according to the text?

<p>High initial investments in data preparation, IT infrastructure, and people development (A)</p> Signup and view all the answers

What happens with the focus as the corporate perspective on AI matures?

<p>The focus shifts from individual use cases to AI portfolio management (A)</p> Signup and view all the answers

What is recommended to increase overall AI maturity as mentioned in the text?

<p>Reinvesting resources freed up in the short to mid-term (C)</p> Signup and view all the answers

What is the purpose of differentiating between AI use case development expenses and costs for operation and maintenance?

<p>To understand the resource and time requirements for each phase of the AI application life cycle (B)</p> Signup and view all the answers

What is the strategic and organizational learning aimed at in the context of AI value assessment?

<p>Collection of historical evidence on AI-based value creation for future resource claims (C)</p> Signup and view all the answers

What is the primary purpose of the systematic approach to AI value assessment described in Figure 4?

<p>To test and refine value hypotheses for different AI use cases (B)</p> Signup and view all the answers

What is the key benefit of understanding all possible sources of data for AI use cases?

<p>To effectively integrate and process secure, structured, and efficient data (C)</p> Signup and view all the answers

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