Companies looking to apply AI are looking for a competitive advantage in their industry, something that will give them an edge in the market and help them grow. However, not every AI application can give a company a competitive advantage. Many AI applications are simply going to become the new normal.
For example, AI-enabled payments fraud detection is likely to become the new normal in eCommerce. Most of the fraud detection companies out there will almost necessarily use machine learning, and the data infrastructures at eCommerce companies will naturally evolve to allow for applying anomaly detection algorithms easier. As such, an AI-enabled fraud detection application will not be a firm differentiator; everyone else will be doing it, too.
But there are some ways in which companies can tangibly pull ahead, and in this article, we detail three different methods for gaining a competitive advantage with AI: establishing an AI transformation vision, data dominance, and cultivating C...
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