Nexe: Six recommendations for integrating AI in business

The arrival of artificial intelligence (AI) is transforming the business landscape at an unprecedented speed. The implementation process for AI tools and ways of working is however easier said than done – Xavier Castella, partner at Spanish consultancy firm Nexe, outlines six tips that leaders should consider when rolling out the technology.

1. Redefine Talent

AI not only optimizes processes; it redefines the skills needed in an organization. Leaders are advised to invest in training their team in data analysis and critical thinking, skills that complement automation and are key for unlocking the potential of artificial intelligence.

2. Foster a Culture of Innovation

Implement an environment that encourages experimentation and risk-taking. Allow employees to test new AI-powered ideas, from customer service chatbots to predictive analytics tools. This not only improves processes but also strengthens creativity and facilitates cultural transformation within the organization.

3. Integrate AI into Decision-Making

Stop basing decisions on intuition. Leaders should transition to data-driven ways of working: using AI algorithms to analyze large volumes of data and generate insights that inform their strategies. This can lead to enhanced decision-making across all kinds of domains, such as predicting customer behaviour, market trends, commercial moves, and more.

4. Large-Scale Personalization

AI enables unprecedented personalization. It can for instance use algorithms to rapidly segment customers and automatically adapt offers, creating unique experiences that increase customer loyalty and improve conversion rates. Tapping into such personalization can deepen and transform the relationship brands have with their customers.

5. Automate Key Business Processes

Identify repetitive tasks and apply automation. From inventory management to financial analysis, AI can free up valuable time for team members, enabling them to focus on more value-adding activities. AI can also help augment business processes, such as removing inefficiencies and optimising workflows.

6. Review and Redefine the Value Proposition

Leverage AI to analyze the changing needs of customers and the market. AI can power an effective and rapid review of the value proposition, shedding light on current performance and alignment with future expectations. Using these AI-driven insights, leaders can customize services or products, adapt to new trends, or speed up innovation – all with the goal to remain relevant and competitive in a constantly changing environment.

According to research from Sopra Steria, the global market for AI services and solutions will grow at an average of 19% per year up to 2027, then reaching a total value of $1 trillion. AI’s fastest growing segment, generative AI, offers a massive opportunity for companies to grow their efficiency and productivity, said McKinsey & Company in a separate report.