AI for Business Leaders in partnership with BMW
Artificial Intelligence, Machine Learning, Business Strategy, Data Labeling, Data Modeling, Paradigm Shift
ABOUT AI FOR BUSINESS LEADERS NANODEGREE
The Nanodegree has been created for business leaders and managers who are responsible for making strategic decisions within the organization. If you want to develop your knowledge and skills in the field of technical feasibility and business, AI for Business Leaders program is definitely for you.
During the course, you will learn the basics of machine learning. You will find out how to apply them to build artificial intelligence systems for business. The program is very hands-on and it covers numerous real-life case studies. After the course, you will be able to implement and make the most out of artificial intelligence in your organization. You’ll master your technical skills and build an AI-backed strategy from scratch.
The course takes around 4-8 weeks to complete. If you want to succeed, you should have experience in probability and statistics. Business decision-making and IT background will also work for you.
Is Artificial Intelligence (AI) Right For You?
While AI has grown in popularity in recent years, just 2.8 percent of organizations have implemented machine learning — the approach at the core of contemporary AI developments — when compared to other business technologies such as touchscreens and voice recognition. This raises the issue of why. While small companies may be hesitant to use AI due to cost or security concerns, firms with sufficient datasets and cash to support an AI investment might profit from AI if they wish to grow into new industries or review historical data to forecast future patterns.
This approach is perfect if you’re a leader in a field that sees a lot of tech-driven disruption, changes in consumer behavior, or whose success is strongly reliant on a pleasant customer experience. Consider a customer success manager who is responsible for hundreds of customers each with their own set of requirements that cannot be met by a one-size-fits-all strategy.
There’s no way to give each one your personal touch, but AI can help you prioritize your time and make the best recommendations. AI for Business Leaders program can create precise and specific forecasts about what’s ideal for each organization, allowing managers to retain customer connections despite the high volume.
Putting Together the Right AI Team
Indeed, the human aspect is equally as crucial as the technical team when it comes to AI deployment success. Businesses should not rely just on technical experts to complete the task. That same expertise must be able to explain AI’s prospective capabilities to leaders and stakeholders who are not technically savvy. This will allow for more alignment throughout the organization since operationalizing data cannot thrive in isolation.
A chief technology officer (CTO) who already has expertise in driving and growing a team with business requirements in mind should lead the drive. An experienced CTO should collaborate closely with the CEO to identify areas where AI implementation on a large scale may have the most effect. Furthermore, the company needs to look internally at its existing personnel to identify chances to educate and upskill the existing workforce on AI’s applicability, democratizing its usage.
Finally, as technology advances and the company changes, your IT staff must be able to explain evolving capabilities. The sky’s the limit as long as corporate executives remain tech-agnostic and maintain an open mind to the advantages of new technologies, particularly because they become more available.
AI for Business Leaders – Decision-Making Based on Data
Just as AI technology may help customers have a better user experience, it can also help CEOs make better business choices. Enabling AI to play a part in corporate thinking may help executives make data-driven choices that lead to growth while reducing the degree of uncertainty. Most CEOs use historical data to identify which customers to pursue and what services to provide. Essentially, they analyze their data to figure out what has worked in the past and how to replicate that success.
You may look at market signals and utilize those intent indicators to identify and source ideal customers and current services that would be a value-additive fit for them when using AI in this way. Taking it a level further, those indicators may be used to discover new services that might possibly generate more income.
Business executives, on the other hand, are wary about AI for two reasons: they don’t fully comprehend its potential and are fearful that it could eventually replace humans in the workforce. While this is reasonable, I feel that to properly grasp the usage of AI, one must recognize that technology cannot function effectively without the guidance and execution of business acumen. Human participation is vital. AI may be a key value driver for firms on their journey to innovation when combined with human participation.
According to Grand View Research, the global artificial intelligence market size is expected to reach USD 733.7 billion by 2027.
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