1 00:00:02,280 --> 00:00:02,840 Hi guys. 2 00:00:02,840 --> 00:00:03,840 Welcome to this session. 3 00:00:03,840 --> 00:00:09,560 So in this session we wanted to discuss how to develop an AI business strategy vision and goals for 4 00:00:09,600 --> 00:00:10,640 a for a company. 5 00:00:11,040 --> 00:00:12,880 So why you need an AI strategy. 6 00:00:12,880 --> 00:00:19,400 So basically the importance of AI strategy is to align our goals or business goals and to maximize impact. 7 00:00:19,400 --> 00:00:25,960 An AI strategy aligns your company's goal with AI initiatives, basically ensuring focused efforts and 8 00:00:25,960 --> 00:00:27,160 measurable results. 9 00:00:27,360 --> 00:00:34,800 Without a clear strategy, AI projects can become little disconnected and waste valuable resources. 10 00:00:34,840 --> 00:00:41,240 An AI strategy acts as your business's roadmap, guiding your team towards success with purpose and 11 00:00:41,240 --> 00:00:41,800 focus. 12 00:00:42,200 --> 00:00:45,600 So defining your AI vision statement becomes super important. 13 00:00:45,640 --> 00:00:46,680 You need to think about. 14 00:00:46,680 --> 00:00:52,560 Whenever we are thinking of thinking of a vision statement, it has to be set as a clear, focused, 15 00:00:52,600 --> 00:00:54,040 future focused goals. 16 00:00:54,280 --> 00:01:00,400 Our AI vision is a clear statement of how AI will drive business our business success. 17 00:01:00,640 --> 00:01:04,200 Be very specific and tie your goals to real outcomes. 18 00:01:04,200 --> 00:01:12,250 So, for example, use AI powered analytics to predict customer demand and reduce delivery times by 19 00:01:12,250 --> 00:01:13,090 20%. 20 00:01:13,970 --> 00:01:20,090 Now, when you assess where your business stands, you need to evaluate readiness before you start. 21 00:01:20,490 --> 00:01:27,130 Check your data quality, tech infrastructure and team skills to identify strengths and gaps. 22 00:01:27,330 --> 00:01:32,210 Knowing where you stand ensures realistic goals and smoother implementation. 23 00:01:32,810 --> 00:01:34,770 Now review lessons on. 24 00:01:35,250 --> 00:01:41,130 Before we go into this, we need to review the lessons which we had done in AI readiness, wherein we 25 00:01:41,130 --> 00:01:45,570 had a couple of questions which we had talked about, discussed about like what are our business goals 26 00:01:45,570 --> 00:01:47,290 for AI adoption? 27 00:01:47,450 --> 00:01:50,890 Do we have high quality, organized, accessible data? 28 00:01:51,090 --> 00:01:56,290 Is our current technology infrastructure scalable and compatible with AI tools? 29 00:01:56,290 --> 00:02:00,530 Does our team have the skills needed to work with AI or do we need training? 30 00:02:00,530 --> 00:02:06,170 So all these questions you need to think about again in order to review before you move forward in this 31 00:02:06,170 --> 00:02:07,250 particular course. 32 00:02:07,770 --> 00:02:15,300 So we have picked up a specific framework over here, which is the four pillars of generative AI strategy, 33 00:02:15,300 --> 00:02:19,220 which will help you to design your own AI strategy for your business. 34 00:02:19,380 --> 00:02:21,260 So it has four major factors. 35 00:02:21,260 --> 00:02:22,700 The first one is vision. 36 00:02:22,860 --> 00:02:28,820 So in vision you need to think about how to set specific business driven AI goals that are clear and 37 00:02:28,820 --> 00:02:29,540 measurable. 38 00:02:29,820 --> 00:02:35,380 For example, reduce customer service wait times by automating responses for common questions. 39 00:02:36,180 --> 00:02:38,380 Then comes value in value. 40 00:02:38,420 --> 00:02:45,180 Ensure every AI project delivers measurable business value by boosting revenue, reducing cost, or 41 00:02:45,180 --> 00:02:46,900 improving customer experience. 42 00:02:47,100 --> 00:02:53,100 Now, for example, automating inventory management can reduce storage costs and speed up the deliveries. 43 00:02:54,220 --> 00:03:00,940 Now, the third aspect of this strategy is going to be adoption, which is success depends on implementation. 44 00:03:00,940 --> 00:03:08,100 So creating an action plan with defined goals, deadlines and team training to keep projects on track. 45 00:03:08,540 --> 00:03:14,140 And then the last segment of it is risk management where we manage risk like data security, compliance, 46 00:03:14,380 --> 00:03:19,260 compliance and bias with strong safeguards and privacy protocols. 47 00:03:19,820 --> 00:03:22,350 Now creating an action plan here. 48 00:03:22,550 --> 00:03:23,590 You can think of it. 49 00:03:23,590 --> 00:03:29,710 You can outline some key projects, assign team leads, set your timelines, start with a small high 50 00:03:29,710 --> 00:03:32,030 impact initiatives for quick wins. 51 00:03:32,310 --> 00:03:36,310 So for example going back to the customer service chatbot example. 52 00:03:36,510 --> 00:03:38,950 So you select first you select the platform. 53 00:03:38,950 --> 00:03:41,630 Then you train the chatbot on relevant data. 54 00:03:41,670 --> 00:03:43,710 Then you integrate it into your system. 55 00:03:43,710 --> 00:03:49,990 So like this you're going to build out the action plan and then break down tasks into smaller ones. 56 00:03:50,190 --> 00:03:56,070 Set milestones to track the progress, review the outcomes, and adjust as and when needed. 57 00:03:57,030 --> 00:04:00,470 Now, in all of this team alignment is super crucial. 58 00:04:00,510 --> 00:04:06,150 Super needed because all the members need to be connected and committed to this particular AI vision. 59 00:04:06,510 --> 00:04:08,950 They need to share the vision with the entire team. 60 00:04:09,110 --> 00:04:15,030 Regular AI check ins and brainstorming sessions should happen so that new ideas can come up. 61 00:04:15,030 --> 00:04:19,190 And then we need to also celebrate wins and encourage the new ideas. 62 00:04:20,190 --> 00:04:26,390 So this is how we are able to build out a complete AI strategy for any business.