1 00:00:00,050 --> 00:00:00,680 Case study. 2 00:00:00,680 --> 00:00:03,080 Strategic scoping of AI projects. 3 00:00:03,080 --> 00:00:06,380 Tech Nova's journey to enhanced customer service efficiency. 4 00:00:06,410 --> 00:00:12,920 Scoping AI projects effectively can revolutionize how organizations achieve their strategic goals while 5 00:00:12,920 --> 00:00:15,680 managing resources and mitigating risks. 6 00:00:15,980 --> 00:00:22,880 Consider the case of Tech Nova, a mid-sized technology firm facing significant customer service challenges. 7 00:00:23,150 --> 00:00:28,940 The company has identified that long response times and low customer satisfaction are affecting retention 8 00:00:28,940 --> 00:00:30,620 rates and brand reputation. 9 00:00:30,860 --> 00:00:36,710 Nova's leadership believes that deploying an AI driven customer service chatbot could substantially 10 00:00:36,710 --> 00:00:40,160 improve customer service efficiency and satisfaction. 11 00:00:41,480 --> 00:00:44,540 The first critical step was defining the problem. 12 00:00:45,020 --> 00:00:50,570 Tech Nova conducted a comprehensive analysis of their current customer service operations, identifying 13 00:00:50,570 --> 00:00:52,700 bottlenecks and inefficiencies. 14 00:00:53,480 --> 00:00:58,370 They realized that their manual customer support process was too slow and error prone. 15 00:00:58,760 --> 00:01:04,770 By engaging with key stakeholders, including customer service representatives and the customers themselves. 16 00:01:04,800 --> 00:01:10,980 Technova ensured that the AI project would address real pain points and garner necessary buy in. 17 00:01:11,700 --> 00:01:16,470 Next, Terranova's project team sets Smart objectives to guide their AI project. 18 00:01:16,500 --> 00:01:23,310 They aim to reduce response times by 50%, increase customer satisfaction scores by 20%, and enable 19 00:01:23,310 --> 00:01:28,050 the chatbot to handle 70% of inquiries autonomously within the first six months. 20 00:01:28,080 --> 00:01:34,380 These specific, measurable, attainable, relevant, and time bound goals provided clear benchmarks 21 00:01:34,380 --> 00:01:40,290 for success and kept the team focused to evaluate the feasibility of the project. 22 00:01:40,320 --> 00:01:44,070 Technova conducted a thorough study of their data availability. 23 00:01:44,520 --> 00:01:49,980 They found that they had extensive historical customer interaction data, which was both high quality 24 00:01:49,980 --> 00:01:53,970 and abundant, enabling effective training of the AI models. 25 00:01:54,570 --> 00:02:00,720 Financially, they calculated the costs of the AI technology, including the necessary hardware, software 26 00:02:00,720 --> 00:02:04,650 and technical personnel, ensuring the project stayed within budget. 27 00:02:04,970 --> 00:02:10,820 Operationally, they assessed their current infrastructure and found it adequate to support the new 28 00:02:10,820 --> 00:02:11,450 system. 29 00:02:12,260 --> 00:02:17,750 They also identified the need for additional training for their staff to manage and maintain the AI 30 00:02:17,780 --> 00:02:18,440 system. 31 00:02:19,550 --> 00:02:22,910 A risk analysis revealed several potential issues. 32 00:02:23,060 --> 00:02:29,120 Data privacy and security were chief concerns given the sensitive nature of customer information. 33 00:02:29,120 --> 00:02:35,450 Technova implemented robust data governance practices to safeguard data integrity and privacy. 34 00:02:35,720 --> 00:02:41,120 They also recognised the risk of algorithmic bias and put in place regular audits to ensure fairness 35 00:02:41,120 --> 00:02:43,640 and accuracy in AI model outputs. 36 00:02:44,060 --> 00:02:49,040 What steps can organisations take to mitigate the risk of algorithmic bias effectively? 37 00:02:50,150 --> 00:02:55,910 Furthermore, Technova defined key performance indicators to monitor the project's progress and impact. 38 00:02:56,420 --> 00:03:02,120 These included metrics like reduction in response times, improvement in customer satisfaction scores, 39 00:03:02,120 --> 00:03:05,030 and the accuracy rate of the chatbots responses. 40 00:03:05,600 --> 00:03:11,180 Regularly tracking these KPIs enabled the team to identify and address issues promptly, ensuring the 41 00:03:11,180 --> 00:03:13,460 AI solution met its objectives. 42 00:03:15,110 --> 00:03:18,110 Stakeholder engagement was crucial throughout the project. 43 00:03:18,620 --> 00:03:24,710 Effective communication strategies helped Tennovas executives, employees, and customers understand 44 00:03:24,710 --> 00:03:27,350 the project's benefits and potential impacts. 45 00:03:28,280 --> 00:03:34,400 By involving customer service representatives in the development and testing phases, Technova was able 46 00:03:34,400 --> 00:03:39,440 to address their concerns and leverage their insights to refine the AI system. 47 00:03:39,440 --> 00:03:45,140 What methods can organizations use to ensure effective communication and stakeholder engagement in AI 48 00:03:45,170 --> 00:03:46,100 projects? 49 00:03:47,180 --> 00:03:51,530 Ethical considerations were integrated into the project's scope from the outset. 50 00:03:52,100 --> 00:03:57,560 Technova established guidelines to ensure their AI solution aligned with their organizational values 51 00:03:57,560 --> 00:04:02,780 and societal norms, focusing on privacy, fairness, and accountability. 52 00:04:03,230 --> 00:04:08,980 They conducted impact assessments and engaged with diverse stakeholders to understand and address ethical 53 00:04:08,980 --> 00:04:14,170 concerns such as minimizing bias and promoting inclusivity in their AI models. 54 00:04:14,200 --> 00:04:20,020 How can organizations incorporate ethical considerations during the scoping phase of AI projects? 55 00:04:21,250 --> 00:04:25,180 Scalability and sustainability were other essential factors. 56 00:04:25,720 --> 00:04:32,080 Technova adopted a modular and flexible design approach, leveraging cloud based services and open source 57 00:04:32,080 --> 00:04:38,290 tools to ensure their AI solution could handle increased workloads and expand to new use cases. 58 00:04:38,740 --> 00:04:44,530 They plan for continuous monitoring and maintenance to keep the system up to date and performing reliably. 59 00:04:44,560 --> 00:04:50,950 What strategies can organizations employ to ensure the scalability and sustainability of their AI solutions? 60 00:04:52,210 --> 00:04:57,670 In conclusion, Tech Nova's journey underscores the importance of a strategic and collaborative approach 61 00:04:57,670 --> 00:05:04,720 to scoping AI projects by clearly defining the problem, setting Smart objectives, conducting feasibility 62 00:05:04,750 --> 00:05:07,180 studies, performing risk analysis. 63 00:05:07,180 --> 00:05:08,710 Establishing KPIs. 64 00:05:08,710 --> 00:05:10,150 Engaging stakeholders. 65 00:05:10,150 --> 00:05:14,690 Holders considering ethical implications and planning for scalability and sustainability. 66 00:05:14,720 --> 00:05:17,750 Technova maximize their chances of success. 67 00:05:17,750 --> 00:05:23,480 This comprehensive approach not only ensured that the AI solution delivered tangible benefits, but 68 00:05:23,480 --> 00:05:29,960 also aligned with the organization's goals and values, fostering trust and support from all stakeholders. 69 00:05:31,370 --> 00:05:37,370 By focusing on the strategic scoping of AI projects, organizations can harness the full potential of 70 00:05:37,370 --> 00:05:42,050 AI technologies, driving efficiency, innovation, and competitive advantage. 71 00:05:42,410 --> 00:05:48,650 Moreover, by addressing ethical concerns and ensuring scalability and sustainability, organizations 72 00:05:48,650 --> 00:05:54,320 can build AI solutions that are not only effective, but also responsible and future proof. 73 00:05:54,860 --> 00:06:00,650 Technova experience provides valuable insights for other organizations embarking on AI projects. 74 00:06:01,070 --> 00:06:06,230 By understanding the critical steps and challenges involved, organizations can better navigate their 75 00:06:06,260 --> 00:06:10,760 AI journeys, ensuring successful outcomes that align with their strategic objectives.