AI for Decision-Making in Connected Business

Naomi Haefner () and Philipp Morf ()
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Naomi Haefner: University St. Gallen
Philipp Morf: Zühlke Group

A chapter in Connected Business, 2021, pp 215-231 from Springer

Abstract: Abstract With a growing number of connected devices producing exponentially more data, the value of artificial intelligence and machine learning (AI/ML) is increasing rapidly for businesses. We outline the value add of AI/ML for decision-making in firms and present use cases and tools to generate data-driven value. We discuss various implementation challenges and solution approaches. Successfully executing on AI/ML applications hinges on preparing the company, managing the portfolio of projects, using interdisciplinary teams, establishing strong technical foundations, and, importantly, generating trust in AI/ML throughout the system lifecycle.

Keywords: AI/ML systems; Connected devices; Data; Trust in AI; Business value; Decision-making (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-76897-3_12

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DOI: 10.1007/978-3-030-76897-3_12

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