A cheat's guide to next year's AI investment case

Introduction#

One of the biggest issues large corporates have in driving competitive advantage from AI is just getting started. In the last 2 years, we’ve seen a massive mindset shift from “this will never work in my business” to “I need to transform with AI before my business gets left behind!”. Critically though, this shift hasn’t necessarily manifested itself in the budgets and buying decisions of organisations, meaning AI projects can become limited in scope, value and application.

It is clear that large organisations will transform the way they look at AI investment over the next few years in a similar way that data and analytics investment transformed from around 2015 to 2020 and Chief Data Office teams became commonplace. Corporates must build foundational human and technology AI capability, whilst also creating value-driving use cases and business applications. That requires an overall business strategy and investment case, which isn’t there yet for most organisations.

For example, do you know who owns the AI business and technology strategy in your business? Do they have a defined budget for both capability uplift and business applications? Are AI projects aligned to a central vision and are they reusing central AI and institutional knowledge capabilities?

If you’re serious about doing AI in your business the best time to get answers to these in place was 18 months ago, the next best time is right now!

Here is a grab-and-go template for companies trying to articulate their Artificial Intelligence (AI) investment case, feel free to use it as a template for your own discussions by adding your unique context.

For each section, you can 'drill down' to more information if you'd like to learn more.

If you’d like a little more help, why don’t you drop us a line at hello@tomoro.ai