Digital Financial Reporting

Forbes article, Demystifying Artificial Intelligence, points out that AI is on the minds of business executives. While 96% of businesses are doing something with AI, most still seem confused about how to put it to use:

O’Reilly Media Founder and CEO Tim O’Reilly observes,

“Everyone is talking about ‘AI’ these days, but most companies have no real idea of how to put it to use in their own business”.

Everyone seems to want to rush to the "sexy" part and don't realize that 80% of their effort will be related to getting their data properly organized and sorted out. Not getting their data sorted out is why most AI projects fail.

O'Reilly Media publishes The AI Ladder to help organizations to help sort out their strategy and tactics. Here is part of the conclusion of that document:

Finally, AI is not magic. It’s hard work. It requires the proper tools, methodologies, and mindset, to overcome the gaps that companies are facing (data, skills, and trust) to truly embrace an AI practice and put it to work across your organization. AI is the biggest opportunity of our time, and yet there’s still a certain fear in the market that AI is going to replace jobs. However, the reality is this: AI is not going to replace managers. Rather, the managers who use AI will replace the managers who do not.

Time to up your digital maturity. A good place to start is Artificial Intelligence and Knowledge Engineering in a Nutshell.

Also, here is how I got my data in order.  And this is what I can do as a result.