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It’s time to get excited about boring AI
Extracting information from documents may not be the splashiest application of automation, but it has massive potential to reduce errors and costs.
AI is ready right now to boost productivity and decision making. Use cases are multiplying, but strategy will determine the long-term winners.
AI can boost the bottom line—starting now
54% of executives say that AI solutions have already increased productivity in their businesses. These leaders are using AI to automate processes too complex for older technologies; to identify trends in historical data; and to provide forward-looking intelligence to strengthen human decisions.
AI is making back office functions, such as tax and finance, do more with less and see into the future. Other AI use cases (PwC has hundreds, in every sector of the economy) include financial planning, medical diagnosis, customised retail offerings, and models of individual customer behaviour. Soon AI will transform transportation, manufacturing, media, and more.
The place to start is with a business problem. AI will likely be part of the solution, whether for strategy setting, customer experience and care, billing, compliance, procurement, and logistics.. Organisations will need measures of ROI that can catch AI’s indirect benefits, such as freeing humans from mundane tasks or improving effectiveness of decisions.
But solving problems is just the start. Long-term success demands an AI-aligned strategy.
How we can help
Want to win with AI? Let PwC’s experience help align your business strategy with the latest technology. We support all four parts of an AI-inspired strategy reboot:
- Knowledge. Bring senior executives up to date on AI’s advances, the pain points that AI can solve, what the competition is doing, and what’s on the horizon.
- Priorities. PwC can help determine which AI options support your most important goals.
- Technology and talent. PwC can help build the right technology—including through collaborations with AI software companies—as well as AI-aligned skills and culture.
- Governance. To reduce errors and mitigate risk, PwC can help embed transparency and security into AI from the start.
AI is an embarrassment of riches: it can do so much, across the entire value chain. With PwC’s help, you’ll identify the strategic insights, focus, tools, and talent to harness its power.
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AI: an opportunity amidst a crisis
As organisations repair, rethink and reconfigure their business models to navigate the uncertainties of the post COVID-19 world, they have started realising the potential of digital and cognitive technologies to increase resilience, spot growth opportunities and drive innovation.
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Digital-Native Retailers Are Giving Physical Stores a Radical Makeover
Online brands are opening brick-and-mortar shops are doing to transform the in-store experience. Visit Strategy + Business to find out more.
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Five Standards for Responsible AI Use
Business leaders must implement artificial intelligence in a principled way to optimize customer experience and earn people’s trust.
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The net impact of AI and related technologies on jobs in China
We estimate that AI and related technologies could displace around 26% of existing jobs in China over the next two decades.
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Will robots really steal our jobs?
An international analysis of the potential long term impact of automation.
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The responsible AI framework
So what are the key considerations for bringing AI into the centre of your business and operating model?
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Case study: Chatbot
An Artificial Intelligence (AI) chatbot powers profitability for a multinational bank
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Contact us
Joe Atkinson
Global Chief AI Officer for the PwC Network of Firms, PwC US
Tel: +1 215-704-0372
