For all of Artificial Intelligence’s advantages, getting it wrong can be costly, says Bartek Roszak, Head of AI at STX Next
The potential of Artificial Intelligence seems limitless, from AI-powered recommendation engines to reinforcement learning. However, the rush to implement these technologies without a well-thought-out strategy can pose significant risks in the long run.
“The temptation of quick wins draws in many businesses,” says Bartek Roszak, Head of AI at STX Next. “AI promises a lot, such as personalised product offerings, trend analysis, and improved inventory management. Yet the allure of these immediate gains can lead companies astray if there’s no overarching strategy in place.”
He outlines where businesses could be going wrong and identifies how to steer them back onto the correct course:
Misaligned objectives
Without in-depth planning, he says Artificial Intelligence initiatives may end up being disjointed, failing to align with the key goals and objectives of the business. This misalignment can result in wasted resources on projects that do not support the company’s vision or long-term growth.
Data silos
Artificial Intelligence solutions might be built on isolated data silos, limiting the system’s ability to have a holistic view and potentially impacting the effectiveness of insights, adds Roszak. “For example, an AI-powered recommendation engine that cannot access market trends or inventory data will provide sub-par recommendations.”
Scalability issues
Companies might choose a technology that addresses a current need but is not flexible enough for future expansion or does not keep up with advancements in Artificial Intelligence technology. He explains that this can create roadblocks when the business grows, or market dynamics shift.
Adopting a strategic approach
According to him, a strategic approach to Artificial Intelligence is crucial to mitigate these risks, as this ensures that resources—including budget, time, and expertise—are appropriately allocated. “This aids in creating a flexible AI architecture that can adapt to future advancements, thereby safeguarding the business against obsolescence.”
He cites the example of an AI wedding assistant, a specialised application designed to support couples in the complex and often stressful wedding planning process. This illustrates how such an approach to Artificial Intelligence implementation can make a difference, as these tools can suggest vendors, from caterers and photographers to musicians and florists, all tailored to the pair’s style and budget.
Step-by-step development
Roszak says when building a new application, it’s important to ensure that each step generates a return on investment (ROI) on its own so that the entire solution does not need to be completed before it adds value. “Having a proper roadmap at the beginning of a process will make this simple and also mean that you will create harmony between each step in the development and deliver value at every part of the process.”
For instance, adding skills individually to an AI wedding assistant enhances cohesion and enables each function to complement the others. This incremental development offers user-centric enhancements and facilitates adaptive growth in line with emerging trends and technologies.
Holistic integration
Integrating various functions—such as vendor selection, budget management, and personalised recommendations—an AI system can provide a more seamless and comprehensive service. “This not only improves user experience but also aligns with the business’s goal of becoming a one-stop solution for wedding planning,” Roszak comments.
Conversational interface
Finally, he says that by interfacing through conversational language, the AI wedding assistant allows users to interact with a human planner through text or voice commands. This makes the technology accessible and user-friendly, promoting higher engagement and customer satisfaction.
What next?
Roszak believes the promise of Artificial Intelligence is immense, but so are the risks if it’s implemented without the right vision. “Misaligned objectives, data silos, and scalability issues can undermine the technology’s potential and waste precious resources. Businesses need to adopt a comprehensive, long-term approach, ensuring that their AI initiatives are well-aligned with their goals, flexible enough to adapt to future needs, and holistically integrated to deliver maximum value.”
Investing in Artificial Intelligence quickly may seem like a no-brainer, but it’s a gamble that businesses can’t afford to take. By taking time to get their houses in order, companies can harness the power of Artificial Intelligence to not just succeed but thrive in an increasingly competitive landscape, he concludes.
About the Author
The opinions expressed in this post belongs to the individual contributors and do not necessarily reflect the views of Information Security Buzz.
