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Game changing value from Artificial Intelligence: eight strategies

Eduardo Plastino (Accenture Research, Sao Paulo, Brazil)
Mark Purdy (Accenture Research, London UK)

Strategy & Leadership

ISSN: 1087-8572

Article publication date: 15 January 2018

7055

Abstract

Purpose

The article shares the results of a survey Accenture undertook to measure AI’s potential economic impact on 16 industries.

Design/methodology/approach

The goal was to understand the chief reasons for AI’s potential impact and to identify a set of strategies that companies in any industry can use to benefit from advances in AI technologies.

Findings

AI’s unique characteristics as a capital–labor hybrid, which confers the ability to augment human labor at scale and speed, self-learn and continuously improve over time—will require organizations to adopt new approaches and models in a variety of functional areas.

Practical implications

AI can augment labor productivity by taking on low value-added or supporting tasks and thus enable workers to focus on high value work. Bosch has adopted a “thinking factory” approach in one of its German automotive plants…to enable AI-powered machines to self-diagnose technical failures, order replacement parts autonomously and anticipate maintenance needs.

Originality/value

All industries studied stand to benefit from AI, though three -- information and communication, manufacturing and financial services sectors -- will likely realize the biggest gains. Businesses in every industry will need to consider AI as a potential change agent in their investment, innovation and human capital development strategies. To prepare their organizations for a successful future with AI, business leaders should adopt eight strategies.

Keywords

Citation

Plastino, E. and Purdy, M. (2018), "Game changing value from Artificial Intelligence: eight strategies", Strategy & Leadership, Vol. 46 No. 1, pp. 16-22. https://doi.org/10.1108/SL-11-2017-0106

Publisher

:

Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

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