It’s time for all business leaders to understand how predictive artificial intelligence and machine learning can help grow your business, and how it can be implemented and deployed with minimal risk and maximum value returned. In my experience in large companies as well as startups, most current efforts have failed to deploy or never realize the value expected.
I recommend that you treat this new technology as you do any other, with careful planning and a detailed deployment process, with controls in place to monitor results and change requirements.
In reality, these steps are only the beginning. Once the model has proven to be of value, its viability moving forward requires maintenance, monitoring, and ethical vigilance. Any new technology tends to lose its edge and stagnate over time as the world changes around us. The economy shifts and customer behavior patterns evolve.
You must also be sensitive to changes that can cause the learning model to adversely affect any protected class, show bias and lack of representation to any specific groups, or reveal personal attributes that need not ever be disclosed. Thus your role as a business leader and professional becomes even more key in making sure that the result helps not only your business, but also your customers and society as a whole. It’s time for all of us to learn more about how to deploy new technologies and move forward effectively rather than striking out blindly or ignoring new business growth opportunities.