Artificial intelligence continues to transform business. Yet, until now most businesses have only used it for supply chains, marketing, and operations, not strategic planning. However, that’s changing quickly since artificial intelligence has become more available, affordable, and useful.

Levels of AI Development

Many companies already use AI for competitive analysis or to study business unit performance. Some have also used this information to refine and test their capabilities.

The next step is usually diagnostic intelligence. This allows organisations to review performance, identify root drivers, and pinpoint stumbling blocks. Companies can then use this data along with market signals to predict certain scenarios.

When Is AI Most Beneficial?

Organisations can certainly use AI more than they have in the past. Still, some companies can see more benefit than others.

Those that have extensive data and a controlled, systematic portfolios can benefit from the granular insights AI provides.

Companies that regularly revisit their innovation decisions are also more likely to benefit. Data can measure the ROI of initiatives to ensure organisations deploy resources in the most effective way.

Artificial intelligence can provide even greater value if the company can make quick decisions near deployment time.

Artificial Intelligence Can Greatly Assist Executives

The complexity of strategic planning suggests AI can’t possibly replace human judgment at this point. Still, AI can be a valuable asset for progressive business leaders since it can simplify processes and provide timely insights.

As an example, portfolios can be segmented and analyzed very quickly to discover the best way to tackle a problem.

Predictive AI can also provide alternative viewpoints worth consideration. Stakeholders can look at why AI made a prediction and then decide whether it a valid concern, or not.

Eventually, it may be possible to delegate much more authority to AI, with specific restrictions and checkpoints. Full-autonomy is still a ways off.

Examples of Artificial Intelligence at Work

Undoubtedly, some companies are already using artificial intelligence to drive strategic innovation. For instance, 91% of financial service firms are using or are planning to use AI in their business. Early-stage implementation helps them with investment processes and investor relations.

AI also plays a huge role in industry helping business monitor supply chains and adjust prices based on real-time demand to improve their bottom line.

Since artificial intelligence provides an objective systematic review, some Chief Innovation Officers and Chief Strategy Officers use it to root out bias and to manage conflicts of interest. AI also provides reminders to executives of upcoming decisions so they don’t make impulsive ones at the last moment.

Finally, artificial intelligence can help decisionmakers with resource allocation since it can evaluate multiple options very quickly.

Guiding Companies Towards Strategic Artificial Intelligence Innovation

It is no longer difficult to access AI tools and expertise. Innovation ecosystems tap into talent and solutions from around the globe. The best is EarlyBirds, winner of top spot two years running.

Chief Innovation Officers and Chief Strategy Officers can tap into EarlyBirds’ resources to create a competitive advantage. Each offers the following benefits:

• Increased productivity
• Improved operational efficiency
• Enhanced competitiveness
• Connections to the best Subject Matter Experts and innovators available
• Simplified process

EarlyBirds Skill Identification Program

Our skill identification program offers potential solutions to organisation to find and retain the best in the current talent pool.

The program is overseen by veterans in the industry with a high level of credibility and expertise that benefits all parties. It also provides actionable data-driven recommendations fuelled by cutting-edge technologies, such as artificial intelligence, machine learning, and predictive analytics.

EarlyBirds Open Innovation Ecosystem

Our award-winning Open Innovation Ecosystem allows both innovation and strategic thinking in all areas of a business, whatever the technical or business challenge or potential opportunity your organisation wants to explore.

With a data pool of over 5.0 million global innovations across many industries, it is possible that solutions already exist that address your organisation’s challenges. Alternatively, your organisation can list your needs and request solutions from innovators.

EarlyBirds Ecosystem Maps

EarlyBirds’ Ecosystem Maps offer strategic value for decision-making. They empower company officers, because they provide a full picture of the possible technological advancements in specific domains. This allows them to make informed, forward-thinking decisions.

Each Ecosystem Map contains startups, scaleups, and mature companies involved in specific themes and sub-themes making it possible for organisations to plot a path towards innovation. The map also tracks numerous daily and historical news and media articles from across the world.

EarlyBirds Explorer Program

The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required. It is designed to speed up the process of technological innovation for the organisation as a service.

The Explorer Program includes several features including quarterly and monthly innovation days; regular webinars to help stimulate innovation in the organisation; a focus on types of innovations; a platform enterprise license; and a nominated SME for the business.

EarlyBirds Challenger Program

The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet organisational, technical, and risk requirements.

The program is run by an EarlyBirds’ Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.

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EarlyBirds can help Chief Innovation Officers, Chief Strategy Officers, and others tasked with strategic innovation plot their AI path. Our experience extends to the Food Industry, Retail, Healthcare, Operations & Maintenance, Manufacturing, Finance & Insurance, Energy, Education, Cybersecurity, Sovereign Nations, the Public Sector, and many other areas.

If interested, we invite you to sign up as an Early Adopter. Alternatively, please request a consultation for a more personalized approach.

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