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Tuesday, December 6, 2022

From Prediction to Transformation | Harvard Business Review

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Contrary to common belief, artificial intelligence adds value through enhancing the quality of decisions, not by providing insights, which are merely one of its many advantages. 

The good news is that there are a ton of business prospects for it to achieve that. But because judgments made in one part of an organization frequently affect those made in other parts, implementing AI frequently necessitates system reform. In that regard, AI is comparable to ground-breaking historical innovations like electricity, which at first served a limited purpose before revolutionizing production. Because predictions made by AI are often very accurate, it will likely move decision rights to areas where judgment is still necessary, potentially altering who makes decisions and when, when, and how. A value chain’s various components will be impacted by projections that are more accurate in one area. For instance, if a restaurant can accurately predict how many products it would require each week, its orders will fluctuate, increasing the uncertainty of its suppliers’ sales. A system’s effort and resources must be coordinated, and modularity will help to prevent disruptions from changes in one area. 

Source:https://hbr.org/2022/11/from-prediction-to-transformation

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