6 top AI predictions and priorities for 2019 from PwC
Organizations that focus their efforts in six key areas will be far ahead of other businesses at this time next year, says the research firm.
The AI priority list for success in 2019
In its new report, “2019 AI Predictions: Six AI priorities you can’t afford to ignore,” analysts at research firm PwC have offered their advice on where organizations must put their focus with artificial intelligence technologies. Here are the six priorities that PwC says are a must for success.
1. Structure: Organize for ROI and momemtum
“With AI, it’s time to scale up or give up,” the report stresses. “Leading companies are already starting to move their AI models into production, where they will run operations to enhance decision-making and provide forward-looking intelligence to people in every function. If you’re serious about AI, formalize your approach and develop company-wide capabilities so successful (and smaller) projects can be replicated and built into a greater whole.”
2. Workforce: Teach AI citizens and specialists to work together
“Upskilling non-AI professionals to work with AI has become a crucial part of workforce strategy,” the report explains. “A new class of tools, including AutoML, which streamlines and automates part of the process for creating AI models, is democratizing AI. Thirty-eight percent of executives will focus efforts on AI tools for business people — the second-ranked capability they will cultivate behind reusable data sets and models.”
3. Trust: Make AI responsible in all its dimensions
“Concerns have grown over how AI could impact privacy, cybersecurity, employment, inequality and the environment,” the report explains. “Customers, employees, boards, regulators, and corporate partners are all asking the same question: Can we trust AI? So it’s no surprise that executives say ensuring AI systems are trustworthy is their top challenge for 2019.”
4. Data: Locate and label to teach the machines
“AI answers the big question about data, which we called out last year:how to turn data into value,” the report notes. “In our survey, the top AI-related data priority for 2019 is to integrate AI and analytics systems to gain business insights from data. That’s a realistic goal. AI can be used with data and analytics to better manage risk, help employees make better decisions, automate customer operations, and more.
5. Reinvention: Monetize AI through personalization and higher quality
“Boosting the top and bottom lines with AI is not a distant dream,” the report says. “Many businesses are already using AI to improve operations and enhance the customer experience. But in 2019, a number of them will plan or develop new business models based on AI and investigate new revenue opportunities. Many will cultivate these new businesses in separate parts of their organization, distinct from CoEs that are more internally focused.”
6. Convergence: Combine AI with analytics, the IoT, and more
“AI’s power grows even greater when it is integrated with other technologies, such as analytics, ERP, the Internet of Things (IoT), blockchain, and even — eventually — quantum computing. The benefits of this convergence trend aren’t limited to AI. It’s where the greatest gains from all the essential eight technologies will come from.”