The Key to AI Readiness: Mastering the Fundamentals with Step One

By Aimee Roberts

3 mins


The Key to AI Readiness: Mastering the Fundamentals with Step One

By Aimee Roberts

3 mins


AI isn’t just a buzzword—it’s a permanent fixture reshaping our digital world. It’s revolutionising how we operate in every sector, from optimising processes to understanding customers better. The pressure to capitalise on AI quickly is tangible, with executives fearing lagging behind if they don’t act fast. Unlike passing tech trends, AI is seen as genuinely transformative by the majority of businesses.

 

With 62% of C-suite executives confirming that AI is currently being leveraged across their enterprise. Yet, despite widespread recognition of its significance, many enterprises find themselves wrestling with unleashing AI’s full power. A staggering astonishing 90% of AI projects missing their ROI targets begging the question: What’s the missing link? 

 

Navigating Step One: The Four Fundamentals

 

We believe to navigate this organisations need to start  focusing on the fundamentals:

1. Strategic Leadership: Picture a symphony where every instrument plays in harmony—the same applies to AI adoption. Alignment and clarity from top-tier leadership are paramount in defining AI’s role within the organisation.

 

2. Quantifiable Outcomes: Projections made without proper measurements are useless. A robust strategy necessitates pinpointing the right use cases and KPIs to drive tangible commercial gains.

 

3. Clean, Usable Data: As the saying goes, “Quality in, quality out.” Without reliable, legally compliant data, the road to success becomes a treacherous one.

 

4. Risk Mitigation: In a landscape rife with regulatory frameworks like DMA, DSA, and the AI Act, proactive risk management is non-negotiable to safeguard AI investments.

 

By mastering these fundamentals, we believe companies can better navigate the complex landscape of AI implementation and maximise its potential for growth.

 

Introducing the AI Strategy flywheel

 

So how do you make this happen? Contrary to popular belief, a complete overhaul of your digital infrastructure isn’t the prerequisite for AI success. Instead, our Step One approach hinges on understanding your current standing and desired objectives.

 

 

 

1. Use Cases & KPIs: An effective AI strategy should seamlessly integrate with your business goals, prioritising use cases that promise substantial outcomes with clear, measurable objectives.

 

2. Organisational Enablement: A unified vision for AI, coupled with clearly defined roles and a well-equipped workforce, lays the groundwork for seamless integration across the organisation.

 

3. Data & Technology: Continual vigilance over data quality, bolstered by scalable systems and robust governance frameworks, forms the bedrock of AI success.

 

4. Ethics & Compliance: Upholding principles of fairness, accountability, and transparency in AI practices not only mitigates legal risks but also safeguards your brand’s reputation.

 

At its core, Step One revolves around enhancing awareness of AI’s potential, both its advantages and limitations. By instilling confidence in your leadership team, data and capabilities you can start to pave the way to unlock AI’s transformative business benefits.

 

How Manifesto can help 

 

Over the last decade, Manifesto has empowered more than 125 clients, cementing our position as market leaders in Membership, Loyalty, and Customer Value Growth. Our expertise lies in guiding global giants in Retail, Leisure, Media, CPG, and Financial Services to pivot their strategies towards enhancing customer value. At the core of our approach is data-driven decision-making, a cornerstone for driving efficient customer value growth. Collaborating with a diverse array of clients, we’ve crafted and executed transformative ‘data to value’ strategies with precision.

 

 If you want to find out more about our AI Step One- reach out we’d love to hear what’s on your mind and discuss how we can put AI to work for you.

 


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