Before embarking on an AI journey companies should prepare and organize to take advantage of AI. Consider the following: 

• Identify the Opportunity: Pinpoint apt applications that exhibit high repetition, robust data, and regular patterns – those that ideally carry minimal costs for mistakes. AI doesn’t necessarily need to replace humans; it can substantially assist in increasing job efficiency and accuracy.

• Design with Purpose: The primary aim of AI is to augment human decision-making. Companies extract maximum benefits from this technology when they clearly understand which applications and decisions they intend to enhance.

• Invest Time and Resources: Contemporary AI and Machine Learning algorithms necessitate significant amounts of data and considerable manual input for training and refinement. Implementing test-and-learn strategies can assist companies in identifying methods that best align with their business needs.

• Identify Data Sources: Fusing data from customer interactions, operations, and financial transactions can yield invaluable insights.

• Build AI Proficiency within the Organization: Cultivate a workforce adept at interacting with AI-driven applications, interpreting the output, and adjusting strategies as necessary.

• Manage AI-Associated Risks: Formulate clear roles and procedures to detect and mitigate potential risks related to bias, flawed decision-making, and data security.

Solomon Wise is your trusted partner in harnessing the power of AI. Our advisors help unlock your business’s AI potential, ensuring strategic design and resource optimization. We identify critical data points, foster AI proficiency within your organization, and develop comprehensive risk management protocols. With us, you’re not just adopting AI, you’re maximizing its value and safeguarding your future.