Research from the MITSloan (2020) shows that ‘Only 10% of companies obtain significant financial benefits from artificial intelligence technologies.’ This is due to the lack of continual organisational learning whilst deploying AI. Organisational learning is about the “ detection and correction of error as well as the process of improving actions through better knowledge and understanding.

‘Most companies developing AI capabilities have yet to gain significant financial benefits from their efforts. Only when organizations add the ability to learn with AI do significant benefits become likely.’ (MITSloan, 2020)

An Organisation may be described as an open, dynamic and purposeful system. The nature, purpose and structure of an organisation will be shaped by outside influences – Who are its customers? Where are its resources to be found? What legal system applies? What is the state of the economy?

Since an organisation is not a living being, it is axiomatic that it cannot learn as it has no real ‘brain’. However, the individuals and groups within organisations make up its ‘brain’ and can learn. They may be led to engage in specific kinds of learning for the benefit of the entire organisation.

When implementing any AI into an organisation, it is important for the entire organisation to be on board with the implementation and to learn from the AI as well as work together with the AI. Over time, this will enable a more efficient and effective output from both the AI and the humans as they should better understand each other’s needs and wants.

Beyond AI being used for automating the organisation and industry, it is key for organisations to be more proficient. Learning to work with the AI is one thing and the organisations who intend for this to happen are usually the ones that view AI as more a cost cutting and automation tool.

Other organisations who see a real benefit to AI and therefore have a more successful output from it both financially and internally usually view AI to be a part of their organisational core. Not only does implementing AI mean you will save costs in the longer term, it also adds to the precision, speed and learning of your organisation. If your organisation manages to keep up with this, your organisation will see a wider benefit than just financially.

At Cognino, we believe that the real power of AI rests in its ability to significantly drive transformation across today’s enterprises. AI can be used to improve customer engagement, drive employee empowerment and power product innovation. To achieve meaningful success in pursuit of these transformations, organisations will need to establish a long-term strategy and work together with a technology partner that can act as a strategic thought partner. This will enable holistic thinking across the organisation.

Learn more about how AI can be implemented to your core through Cognino