Driving Digital Transformation through Data and AI

Embrace digitization, data-based decision-making and artificial intelligence (AI) – or perish.

Digitization, machine learning and AI aren’t recent inventions, but only recently has the combination of ubiquitous data, cheap and powerful storage, massive processing power and connectivity emerged. This evolution means that more people in more places can develop intelligent digital products, which, in turn, sparks more and faster disruption.

Nowadays, data – especially unique data – is among the most valuable assets a firm can own. Whatever the industry, organizations should develop the capacity to identify important data, gather, process and analyze that data, and to leverage it for competitive advantage. That means hiring people with expertise in data science, software engineering and AI. Companies must also recruit professionals who can lead end-to-end digital product development and lifecycle management.

Virtually every firm must develop new business models that reflect the ways digital technologies, AI and machine learning are changing industry standards and customer needs. Although AI outperforms humans in specific activities – identifying...