In the world of artificial intelligence (AI), many experts agree that simply being an early adopter is not enough to ensure success. Karen Stroup, Chief Data Officer of Wex, emphasizes the importance of having a principled and deliberate approach to utilizing new technologies. In her presentation, she cautioned against the belief that AI is a magic solution that will automatically propel a company to success. Stroup compared the adoption of AI to the evolution of the Internet and mobile responsive design, stressing the need for strategic vision and skillful application.
Stroup believes that while data readiness is a challenge for companies, the ultimate focus should be on delighting customers with user-friendly experiences. She argues that the customer should be at the heart of any AI strategy in order to future proof a business. Stroup outlines three key principles for businesses: prioritizing actions over words, focusing on design as critical as functionality, and transforming insights into impact. She highlights the importance of ensuring products and services are useful to the target audience, investing in design for a holistic user experience, and leveraging data and AI to drive transformation in business operations.
One of Stroup’s key messages is the importance of thinking beyond the technology itself and considering the impact AI can have on people’s lives. She emphasizes the role of businesses in driving progress and making human life better through the use of AI. Stroup stresses that AI, when combined with actionable insights and a focus on the customer, has the potential to drive real transformation in business operations. By putting the customer at the center of their AI strategy, companies can attract and retain customers in a rapidly evolving AI-driven world.
Overall, Stroup’s insights offer valuable guidance for businesses looking to leverage AI for success. By prioritizing customer satisfaction, investing in design, and translating data into actionable insights, companies can position themselves for long-term growth and competitiveness in the AI landscape. Stroup’s emphasis on the human impact of AI serves as a reminder that ultimately, the goal of technology should be to improve people’s lives and drive meaningful progress. As companies navigate the complexities of adopting AI, keeping these principles in mind can help them successfully harness the power of AI for strategic advantage and sustainable growth.
