Sign In
The CEO Views Small logos
  • Home
  • Technology
    Artificial Intelligence
    Big Data
    Block Chain
    BYOD
    Cloud
    Cyber Security
    Data Center
    Digital Transformation
    Enterprise Mobility
    Enterprise Software
    IOT
    IT Services
    Innovation
  • Platforms
    How IBM Maximo Is Revolutionizing Asset Management
    How IBM Maximo Is Revolutionizing Asset Management
    IBM
    7 Min Read
    Optimizing Resources: Oracle DBA Support Services for Efficient Database Management
    Oracle
    Oracle
    9 Min Read
    The New Google Algorithm Update for 2021
    google algorithm update 2021
    Google
    5 Min Read
    Oracle Cloud Platform Now Validated for India Stack
    Service Partner Horizontal
    Oracle
    3 Min Read
    Oracle and AT&T Enter into Strategic Agreement
    oracle
    Oracle
    3 Min Read
    Check out more:
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    Banking & Insurance
    Biotech
    Construction
    Education
    Financial Services
    Healthcare
    Manufacturing
    Mining
    Public Sector
    Retail
    Telecom
    Utilities
    Gaming
    Legal
  • Functions
    RISMA Systems: A Comprehensive Approach to Governance, Risk and Compliance
    Risma Systems
    ENTREPRENEUR VIEWSGDPR
    9 Min Read
    Happiest Minds: A “Privacy by Design” approach is key to creating GDPR compliant businesses
    Happiest Minds 1
    GDPR
    8 Min Read
    Gemserv: GDPR 2020 and Beyond
    Gemserv 1
    GDPR
    9 Min Read
    ECCENCA:GDPR IS STILL AN UNTAMED ANIMAL
    eccenca 1
    GDPR
    6 Min Read
    Boldon James: HOW ENTERPRISES CAN MITIGATE THE GROWING THREATS OF DATA
    Boldon James 1
    GDPR
    8 Min Read
    Check out more:
    • GDPR
  • Magazines
  • Entrepreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
  • Events
Reading: How to Get Started With AI to Demonstrate Business Value In Months
Share
The CEO Views
Aa
  • Home
  • Magazines
  • Enterpreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Search
  • World’s Best Magazines
  • Technology
    • Artificial Intelligence
    • Big Data
    • Block Chain
    • BYOD
    • Cloud
    • Cyber Security
    • Data Center
    • Digital Transformation
    • Enterprise Mobility
    • Enterprise Software
    • IOT
    • IT Services
  • Platforms
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    • Banking & Insurance
    • Biotech
    • Construction
    • Education
    • Financial Services
    • Healthcare
    • Manufacturing
    • Mining
    • Public Sector
    • Retail
    • Telecom
    • Utilities
  • Functions
    • GDPR
  • Magazines
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
The CEO Views > Blog > Magazine > How to Get Started With AI to Demonstrate Business Value In Months
Magazine

How to Get Started With AI to Demonstrate Business Value In Months

The CEO Views
Last updated: 2022/04/13 at 5:17 AM
The CEO Views
Share
Azita Martin
Azita Martin

Common Best Practices in Getting Started with Artificial Intelligence for Successful Digitalization

Fortune 500 companies who are succeeding in their digitalization journey are taking a similar approach. They are assigning a Chief Digital Officer (CDO) to assemble an ecosystem that consists of an internal team, potentially a systems integrator to augment their team, and a stack of best-of-breed digital technologies. It is key to understand some of the key attributes of technologies that facilitate and accelerate creating AI applications that deliver value in months.

The AI-enabled software selected by a company should be open in nature to prevent the company from being locked into a technology that is custom-coded by the vendor and requires relying on that vendor for any adjustments or changes. There are two keys to successfully implement AI-driven applications or solutions. First, CDOs must involve the experts that run such operations from the very beginning. Second, they must remember that AI is not a data science project, but instead it is a project that must capture human expertise and combine that with the most relevant data in order to appropriately train the AI algorithms.

One example of AI in action in an industrial setting is in the crude oil refinery area of any oil and gas company. The downstream process of refining crude oil into a finished product involves many potential risks, from equipment failures to unplanned downtime. Crude engineers at oil companies gather knowledge about the refining process — the chemical composition of crude oil, how to treat the oil to avoid corrosion, etc. However, not all crude engineers are experts in hundreds of crude types and when these subject-matter experts leave, the compan y loses the knowledge they possess and struggle to share that information with the broader engineering team.

When engineers don’t have the knowledge necessary to mitigate risks associated with different types of crude, the organization risks hundreds of millions of dollars associated with production loss and equipment failure. In fact, crude corrosion across all oil and gas companies globally, cause $15 billion dollars industry loss. However, the implementation of AI-enabled technology, such as Maana’s Knowledge Platform, enables companies to easily capture (mathematically encode) all engineers’ expertise around the globe on over 200 crude types and create an AI application that provides recommendations on how to mitigate corrosion during the crude refining process, to reduce and eliminate equipment failures.
The key to the success of AI is to ensure that you select a software platform that can be used by your subject-matter experts and not a set of tools that have to be put together by data scientists. The best of breed technologies for AI are designed to be used by subject-matter experts and automate many of the cumbersome tasks of creating models. These models which are developed based on the expertise of the employees that manage those operations,

power the AI apps that provide recommendations to optimize those operations.

In the case of crude oil, implementing Maana allowed the oil company to develop a Crude Flex Knowledge Application, which captures the expertise of subject-matter experts for use by all corrosion engineers. Using the various models stored in the Knowledge Application, the company’s engineers can make decisions that reduce maintenance costs and unplanned downtime.

In order to truly leverage digitalization, companies can simply look at the disruption Amazon has caused to the retail industry. Amazon on a daily basis is creating 6000 decision models per day on its customers and operations versus 200 created by an average retailer.

By establishing a CDO role, making AI an imperative, and selecting software that is capable of combining data with human knowledge, even the world’s largest organizations can create decision models at scale and become truly digital companies, improving operational efficiencies and adding billions of dollars to gross margins.

The CEO Views January 25, 2019
Share this Article
Facebook Twitter LinkedIn Email Copy Link
Previous Article Picture1 1 Big Data in Healthcare, a Pure Win-Win Situation
Next Article aim 1 AIM: Benchmarking AI in Cancer Care
markus spiske qjnAnF0jIGk unsplash

Qualities of Enterprise Software Development

March 11, 2024
Do I Need to Convert PDF to SVG
Technology

Do I Need to Convert PDF to SVG?

The CEO Views By The CEO Views March 12, 2025
Understanding Virtual Data Rooms and Their Benefits
Micro Blog

VDR and Its Eye-Catching Benefits

The CEO Views By The CEO Views February 12, 2024
PIONEER LANDSCAPE
ENTREPRENEUR VIEWS

PIONEER LANDSCAPE: HOW TO GROW A SMALL BUSINESS BY THINKING LIKE A LARGER ONE

The CEO Views By The CEO Views February 22, 2024
What Are the Most In Demand Careers for Culinary School Graduates in 2025
Education

What Are the Most In-Demand Careers for Culinary School Graduates in 2025?

The CEO Views By The CEO Views December 18, 2024

How to Do Online Casino Marketing

May 30, 2025

From Boardroom to Marketplace: How CEOs Are Driving Amazon Success

May 30, 2025

A Look at South Florida’s Top Personal Injury Law Firm, Hollander Law Firm Accident Injury Lawyers

May 30, 2025

The Digital Revolution Is Here – And Legacy Payment Systems Are Struggling To Keep Up

May 29, 2025

You Might Also Like

Mike Akard
ENTREPRENEUR VIEWS

A Legacy of Innovation and Excellence

14 Min Read
Nathan Udy, President & CEO
ENTREPRENEUR VIEWS

Nathan Udy: A Visionary Leader Rebuilding the Benefits System

8 Min Read
Jason Lau, CEO
ENTREPRENEUR VIEWS

Jason Lau: Leading with Problem-solving, Adaptability, and Commitment to Long-term Success

8 Min Read
Dr.Che Jordan, CEO
ENTREPRENEUR VIEWS

Dr.Che Jordan: Leading with Compassion to Transform Lives

7 Min Read
Small logos Small logos

© 2025 All rights reserved. The CEO Views

  • About Us
  • Privacy Policy
  • Advertise with us
  • Reprints and Permissions
  • Business Magazines
  • Contact
Reading: How to Get Started With AI to Demonstrate Business Value In Months
Share

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?