The need for intention
Jim Carrey said, โNot one single thing has ever been accomplished without intentionโ.
When we intentionally set out to do something we plan to fulfil a motive, purpose, or objective as a result. There is a meaning behind the action; a sense of achieving some sort of progress after itโs done.
Modern artificial intelligence (AI) was born in the 1950s with a goal to solve complex mathematical problems and create machines that can โthinkโ. This led to the Shakey the Robot โ the first machine to embody AI to logically deduce implicit facts, navigate and improve planning abilities through learning.
When the US Military started using AI in the early โ90s they were able to schedule the transportation of supplies, as well as solve other logistical problems.
And when OpenAI was founded in December 2015, it was with the intention of creating an organisation focused on advancing AI in a way that benefits humanity. From creating intelligent tutoring systems for students to disease surveillance, ChatGPT has only scratched the surface in this respect.
The history of AI reminds us that there was meaning in every instance. From the race to jump on the AI bandwagon, businesses have started realizing why AI is essential for surviving, future-proofing their operations, and enhancing customer experiences. The fear of missing out has shifted towards aligning with what AI aims for: A smarter, more inclusive, and sustainable world.
Intentional, purposeful AI in your business
There are five key benefits when AI is used intentionally and purposefully at the organisational level.
- Supported decision-making: AI facilitates modern business decision-making by processing and analysing data in real time. It enables leaders to react quickly and uncover hidden patterns leading to proactive problem-solving and risk mitigation. Better decision-making is also important because business & IT decision-makers often have different priorities and expectations.
For example,ย Lenovoโs CIO Playbook 2024ย found that APAC business leaders cite leveraging emerging technologies like GenAI as their top business priority. However, CIOs have immediate operational priorities and face challenges in areas such as cybersecurity, data management and talent acquisition.
AI can provide actionable insights and data-driven recommendations across business functions that bridges the gap between CEO & CIO. The two parties can then invest more time to work together towards achieving an aligned vs conflicting set of priorities.
- Efficient and accurate implementation of AI systems:ย Australia avoided a recession in 2023 but this will be followed by below-trend growth in 2024, so organisations are under pressure to achieve more with a limited budget. According toย Lenovoโs CIO Playbook 2024, spending on AI technologies is set to increase by 45 per cent in Australia this year which is good news, but budgets will remain stagnant. AI implementations should not burden businesses with additional capital or operational expenses but enhance operational efficiency. In a scenario of below-trend growth, organizations need to maximize ROI from AI investments to achieve more with limited budgets.
- Better problem solving: AI, particularly GenAI, Machine Learning and Automation, offers versatile solutions across various verticals. For example, GenAI applications span from business intelligence to productivity enhancement and conversational AI, addressing specific business challenges effectively. Itโs no surprise that if AI is used with a clear goal in mind that youโre less likely to forget about why youโre using it in the first place! Across Australia and New Zealand, the top use cases for GenAI are business intelligence (e.g. crowd control and consumption prediction in smart cities), productivity (e.g. AI coding to reduce developer hours), and conversational AI (e.g. chatbots for citizen services). AI algorithms can be tailored to tackle these sorts of problems effectively.
- Tailored experiences:ย Customer engagement, loyalty and higher conversion rates โ nowhere are the competitive advantages more evident than in the retail sector. The Playbook found over 82 per cent of retail CIOs plan to invest in GenAI, with emphasis on hyper-personalisation of the customer experience. For example, understanding user intent and preferences enables GenAI to deliver more relevant and tailored experiences.
- True business agility:ย When properly considered, AI has the ability to enable faster integrations between back-end systems. Regardless of where an organisation is at in their digital transformation journey, this truly unleashes the power of the lifeblood of an organisation: Data.
In Australia, a leading company collaborated with Lenovo to develop a solution to digitalise its car parks, generating vast amounts of data. The companyโs focus has now shifted to leveraging this data for a more connected experience, while ensuring ethical considerations and respecting customer privacy.
To maximise AI investments, organisations must establish clear purposes, coupled with intent and clear goals, is needed prior to implementation.ch
