Andrew Ng, How to Choose Your First AI Project, Harvard Business Review, FEBRUARY 06, 2019
My advice for executives, in any industry, is to start small. The first step to building an AI strategy, drawn from the AI Transformation Playbook, is to choose one to two company-level pilot AI projects. These projects will help your company gain momentum and gain firsthand knowledge of what it takes to build an AI product....
5 traits of a strong AI pilot project
Does the project give you a quick win? Use your first AI pilot project to get the flywheel turning as soon as possible. Choose initial projects that can be done quickly (ideally within 6-12 months) and have a high chance of success. Instead of doing only one pilot project, choose two to three to increase the odds of creating at least one significant success....
Is the project either too trivial or too unwieldy in size? Your pilot project does not have to be the most valuable AI application as long as it delivers a quick win. But it should be meaningful enough so that a success convinces other company leaders to invest in further AI projects....
Is your project specific to your industry? By choosing a company-specific project, your internal stakeholders can directly understand the value....
Are you accelerating your pilot project with credible partners? If you are still building up your AI team (see Step Two of the AI Transformation Playbook), consider working with external partners to bring in AI expertise quickly...
Is your project creating value? Most AI projects create AI value in one of three ways: reducing costs (automation creates opportunities for cost reduction in almost every industry), increasing revenue (recommendation and prediction systems increase sales and efficiency), or launching new lines of business (AI enables new projects that were not possible before)....
Setting up your AI project for success
Appoint a leader: Choose someone who can work cross functionally, and bridge both AI and your industry’s domain experts....
Conduct business value and technical diligence: Make sure that, if executed successfully, the business leaders agree that this project will create sufficient value for the business....
Build a small team: I have seen numerous pilot ideas that were executed with about five to 15 people....
Communicate: When the pilot project hits key milestones, and especially when it delivers a successful result, be sure to give the team an internal platform — ranging from talks, to awards, to even external PR — to allow their work to become known inside the company....
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