Pick Your Destination
Sticking with our travel analogy, the first step is deciding where you want to go. AI is just a tool; its only purpose is to help people accomplish their objectives. So, what is the purpose of the initiative? Is it saving money, increasing productivity, or improving efficiency? Is it reducing risk by preventing fraud? Are you trying to accomplish more with fewer resources or trying to help your team create more value for the rest of the organization? Whatever your objectives, make sure you set specific, measurable performance targets that you can easily track. And make sure to report your progress to higher-ups regularly.
Check Your Starting Point
It’s not enough to know where you want to go; you also need to know where you’re starting from. So, once you've established performance targets, the next step is deciding where to focus your efforts. If the goal is to reduce the risk of financial fraud, for instance, where can AI have an impact? What processes have the highest risk of fraud? How can AI technology be applied to identify and prevent fraud?
Of course, where you focus also depends on who is footing the bill for the initiative. If it's accounting, you might decide to limit your focus to processing vendor invoices, or you could decide to tackle the entire procure-to-pay process. Employee expenses and P-card transactions are another major source of risk, so depending on which department you support, you might begin by focusing on one or both of these.
Plan Your Route
Now that you've chosen a destination—your project objectives—and a starting point—where and how you'll use AI—it's time to figure out the steps you need to take to be successful. Continuing the travel theme, this is where you take out a map (or plug in GPS coordinates) and chart a path.
Plan by deciding what questions need answers. Will the AI solution need to integrate with other systems, or will you be replacing manual processes? Are team members able to focus on high-value activities, or are they forced to perform tasks that eat up a lot of time but provide little benefit? Where is the risk of financial fraud greatest? How do existing systems and processes address this risk? What other tasks or activities hurt productivity?
Choose Your Transportation
How you travel is just as important as where you're going. Cost, convenience, comfort, and speed can all play a role in the decision. For example, walking is fine if you're only going down the block, but not if you're going across the country. For the latter, driving, flying, and taking a train are all better options.
Similarly, there are a number of ways to get started with AI. You could develop something in-house if you have the time, resources, and knowledge to do so. Or try assembling components from multiple sources, hoping they'll work together and produce the results you want. In most cases, however, implementing a proven solution that does exactly what you need it to is the fastest way to go and delivers the most value.
Select a Traveling Companion
If you decide an existing solution is the best option, look for a company that not only possesses technical expertise but also has extensive experience helping organizations like yours achieve their goals. Like a good traveling companion, you want someone who understands your unique needs and the challenges you face—a partner who will go the extra mile to ensure your success. And you also want to work with a company that is constantly innovating to give you better results and more value.
Ready to Begin Your Journey?
The path to AI success doesn’t have to be long and difficult. Oversight has created a series of educational videos to help you learn the ins and outs of artificial intelligence so you can get where you want to go faster. Become an AI Champion and elevate your organization and your career.
