Artificial intelligence for the digital transformation of companies

EY estimated impact of AI use on global domestic product is $15 trillion by 2030

Among the latest generation digital technologies theArtificial intelligence it is one of the most complex and discussed thanks to its ability to rapidly acquire huge amounts of data and information that allow it to learn and interact with the environment. In addition to intervening in various areas of our daily lives, AI, if used appropriately, can accelerate the digital transition of companies.

Paolo Lobetti Bodoni, consulting leader of EY Italy comments “Ignoring the nascent revolution provided by AI means condemning one’s companies to less competitiveness in the global market and, for Italy, losing the opportunity to accelerate its digital transformation. Today 65% ​​of companies in Italy have already adopted AI systems, albeit in an embryonic stage, and the country is in third place for its ability to produce innovation. Positive data and in line with the rest of European countries, but if we consider that 457 million euros were invested in Italy in the last year against 15 billion at European level, we realize how much there is still room for growth in this sector” .

“The adoption of AI – he observes – requires, however, a change of mindset on the part of companies and organizations: it is not just a question of acquiring advanced technologies, but of implementing a holistic approach within the organization. This means understand the needs of end users, develop specific skills, build a culture of experimentation and innovation within your company and define work processes that can integrate AI effectively.This 360° implementation method is the key to generating true long-term value”.

EY estimates the impact of AI use on global domestic product is $15 trillion by 2030. Currently, however, according to the EY Observatory only 8% of companies are engaged in widespread adoption of this technology and therefore its full potential is still far from being exploited. For a large-scale application of AI, a decisive push would be needed, but not without adequate governance that guarantees a correct adoption of the technology, with particular reference to security and data protection.

The approval in December 2022 by the European Council of the AI ​​Act, a regulatory approach based on the classification of AI systems based on the level of risk they may pose to citizens’ fundamental rights, should be seen in this direction. Governance therefore, but also investments which, as far as our country is concerned, despite having increased by 30% in the last year, still see us rather behind compared to the USA, China, the United Kingdom, France, Germany and Spain.

For companies, there are several possible applications of AI: automation of entire processes such as data and personnel management; research and development of new products and services with reduction of costs, times and increase of the quality of the same; personalization of the relationship with customers through direct and tailored interaction models; improvement of the efficiency of employees and company collaborators.

But to ensure that AI represents added value, companies should align their culture, structure and working methods by adopting an integrated strategy between knowledge of the process, ethics and safety. This would translate into an overall change of attitude, starting with the development of specific knowledge, the definition of work processes that integrate AI effectively also through clear rules and an adequate infrastructure.

An ‘AI driven’ business model in which the organization is entirely designed around and based on Artificial Intelligence, where each function must be designed to improve the efficiency and effectiveness of the strategy.

For example, through quick and easy access to data to enable quick and interactive feedback and action between different functions and teams. To date, companies that have embraced AI across the enterprise have achieved significant value from their investments and typically spend 70% of those investments on integrating AI into business processes, 20% on technologies and 10% % in AI algorithms.