As the excitement around (artificial intelligence) AI has grown, companies have been eager to highlight how their products and services incorporate this technology. People often view AI as merely a component, such as machine learning. True AI requires a foundation of specialized software for writing and training machine learning algorithms.

Generally, AI systems operate by ingesting large amounts of data, analyzing this data for correlations and patterns, and using these patterns to make predictions about future states. For instance, a chatbot trained on text examples can learn to generate lifelike conversations, or an image recognition tool can learn to identify and describe objects in images by reviewing millions of examples.

AI programming focuses on several cognitive skills including:

• Learning: This involves acquiring data and creating rules, known as algorithms, to turn them into actionable information. These algorithms provide step-by-step instructions for completing specific tasks.
• Reasoning: This involves selecting the appropriate algorithm to achieve a desired outcome.
• Self-correction: Involves continually refining algorithms to ensure they produce the most accurate results.
• Creativity: This involves using neural networks, rules-based systems, statistical methods, and other AI techniques to generate new images, text, music, and ideas.

Establishing your business objectives

Before considering how to implement AI solutions, it is essential to begin with the "why." Aligning your AI allocations with a defined organizational strategy is crucial, and without a solid roadmap, you could soon find yourself swimming upstream.

With explicit goals, you can prioritize use cases based on their likely impact and determine your solution's necessary data and infrastructure requirements. This approach ensures your decisions are aligned with your business objectives, propelling your organization forward.

Once you have established your “why," several common pathways exist for applying AI to achieve your goals. These range from purchasing off-the-shelf software as a service (SaaS) options to developing custom solutions tailored to your needs.

Measuring the value of your AI initiatives

Measuring outcomes is crucial when prioritizing AI use cases, as clear key performance indicators (KPIs) drive momentum and accomplishments for any technology undertaking, including AI. Begin by evaluating the specific impacts of AI initiatives. The following are some ways organizations are measuring the value of their artificial intelligence projects:

• Productivity: Quicker and more concise transcriptions, document processing, market digests, and content creation, minimizing manual workflows and repetitive responsibilities.
• Personalization: Improving the customer experience with increased customer satisfaction (CSAT) and net promoter scores (NPS), increased average order value (AOV) and customer lifetime value (CLV), and better customer retention and conversion rates.
• Efficiency: More precise demand forecasting, automated inventory management and future forecasts, preempting production line bottlenecks, finding potential safety concerns, enhancing resource allocation, and coordinating supply chains.

By quantifying the usefulness of AI strategies for your company’s goals, you can foster a culture of data-informed decision-making and guarantee AI becomes a strategic asset instead of a standalone technology experiment.

How different departments can benefit from AI

Regardless of your industry or job function, tools like AI with Copilot can enhance your competitive edge and performance. Below are some ways various departments in typical organizations can save time and achieve more focused, practical work with an AI companion:

• Human resources (HR): Job descriptions and employee manuals require frequent updates, often neglected due to the time and effort involved. Microsoft Copilot can draft job responsibilities, create training materials, and respond to job applicants’ emails, streamlining these processes.
• Marketing: Identifying relevant market trends and segments is crucial for targeting your audience. AI can help pinpoint these “hot spots,” aligning marketing efforts with a receptive audience. Copilot can also summarize marketing campaign results with visuals for team presentations, and draft project outlines, saving time for creative refinement.
• Sales: There are several tools that can research industries and provide key data and negotiation points to close more deals. These tools can also analyze sales data to track performance, set goals, and create proposals, allowing sales professionals to focus on building relationships.
• Information technology (IT): From staying current on project calls to identifying data patterns, troubleshooting, and communications, IT professionals can benefit from AI's support, enhancing efficiency.
• Finance: Simplify financial reporting and planning by asking AI to identify areas for improvement. Delegate generating charts and communicating data to your AI assistant, freeing up time for strategic analysis.

Embark on your AI journey with confidence

Selecting the optimal strategy for your AI evolution is critical for maximizing benefits and achieving your business goals. By understanding your objectives, aligning AI initiatives with your business strategy, and measuring outcomes effectively, you can ensure that AI becomes a strategic asset in your organization.

Copilot for Microsoft 365 is ready to bring the AI revolution to your business. Citrin Cooperman’s Digital Services Practice will make sure your business is ready to take advantage of Microsoft’s AI offerings. Schedule a Copilot for Microsoft 365 workshop and contact us today to learn more about how we can help your company embrace AI to achieve its strategic objectives.