Product news, Knowledge

Artificial intelligence at the top of the innovation agenda

December 9, 2022

Artificial intelligence is moving to the top of the innovation agenda. Can you imagine an algorithm developing your next product? 

Why? It is about time. 

Pioneer in the pharmaceutical industry use artificial intelligence to identify previously ignored biological correlations in order to find innovative therapeutic options. The pattern evaluation ensures that it is possible to quickly identify which drugs are effective and which are not. In this way Innovation Resources be used in relevant places. Oceanographer use artificial intelligence to gather new knowledge about changes in the ocean and develop innovative means of hazard prevention in a timely manner. In the material sciences new prediction models ensure that functional materials can be developed much faster to solve real-world problems. Banks artificial intelligence helps to make less biased (and therefore more innovative) decisions and thus better investment decisions, which at the same time lead to a better Customer Experience lead.

What do you need to consider to harness the power of AI for innovation and generate business value? First and foremost, everyone involved must be clear, what AI (Machine Learning) actually is and what it can do.

Basically, it's about using computers with algorithms that learn and improve over time.

Subsequently, a Target determination or problem analysis indispensable: is it about improving production processes? Do we want to uncover possible optimization potential or clarify which trends are present on the market? Only technologies that in the right place can also provide a benefit.

A decisive role for the success also plays whether Expectations of the result realistically assessed and managed be Check initial feasibility: an initial feasibility check should be done based on the assumptions and requirements made to assess whether certain algorithms could work. As far as requirements are concerned, not only Data and model requirements to consider, but equally legal guidelines and those who have a Integration of AI into existing business processes concern.

Provided that the feasibility is confirmed, it is a matter of the Project into subprojects with clear deliverables and timing to divide and thus into Sprints individual features to develop. This can greatly reduce the risk of undesirable developments.

Furthermore, it applies, Manage data with foresight. This means constantly evaluating what data is needed to make sense of it.

A Long-term AI strategy helps to consider today which Data relevant in the future will be and to start collecting them.

Finally, it must be noted that the Accompaniment of the AI development through a corresponding Change Management in the company can be decisive for success.

Newsletter subscription