For some time now, we have been discussing industrial transformations driven by digital technologies. The digital transformation journey has spanned digitization to digitalization, with various data technologies becoming the predominant driving force. To the extent that data-driven technologies are helping to manifest several advances in digital technologies as actionable, the next frontier in reshaping businesses is AI transformation. Developments in AI (mainly powered by advancements in machine learning combined with data-driven technologies) are pushing digital enterprises toward becoming intelligent enterprises. AI technologies are already revolutionizing not just how we perceive and do business, but also the business environment and its overall landscape. Take, for instance, how our online behavior has changed, how we shop today versus in the past, how we find a ride, or even how we socialize.
The rapid pace of developments in the technological space is making it increasingly difficult to keep track of, let alone interpret, them in the context of their impact on and consequences for businesses. One of the main effects of AI has been to enable the realization of value through advancements in other digital technologies in much faster, more efficient, and novel ways. While the literature is replete with use-cases that are being powered by AI, the focus of this article is on exploring how successful AI transformations can be undertaken in large enterprises.
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