CDO Matters Podcast
CDO Matters Ep. 60 | AI Value Creation
Oct 3, 2024
Michael Proksch, Chief Scientist at Accelerate and author of 'AI Value Creation,' dives into how global brands successfully generate value from AI. He discusses the misconceptions around AI's ROI, urging businesses to adjust their strategies amidst the hype. Proksch outlines the long journey of AI, comparing it to a marathon, and underscores the need for a holistic approach involving people and processes. He also highlights the pivotal role of Chief Data Officers in navigating AI complexities to drive meaningful outcomes.
43:04
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Quick takeaways
- Successful AI value creation requires a holistic approach that integrates technology, organizational culture, and change management while engaging all stakeholders.
- Organizations must recalibrate their expectations and adopt a long-term perspective to overcome skepticism and realize meaningful returns from AI investments.
Deep dives
Challenges of AI Value Creation
The discussion highlights the skepticism around the return on investment (ROI) from AI technologies, particularly in the context of Gen AI. Stakeholders often perceive a disparity between the considerable monetary investments in AI and the relatively low realized value. It is essential to bridge the knowledge gap regarding the capabilities of AI among practitioners, especially Chief Data Officers (CDOs), who might not fully grasp how to leverage the technology effectively. Addressing this requires businesses to adjust their expectations and operational models to extract meaningful value from AI implementations.
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