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The following is a case study for Emerj's AI Opportunity Landscape research. To learn more about how we help companies develop winning AI strategies and identify the highest-ROI applications, watch the two-minute video summary of our AI Opportunity Landscape research.
Problem
The bank had many scattered AI projects, but struggled with:

In July 2017, The State Council of China released the “New Generation Artificial Intelligence Development Plan," outlining China's strategy to build a US$150 billion Chinese AI industry in a few short years, and to become the leading nation in AI by the year 2030. Other nations followed suit quickly with national AI strategies of their own - with the US trailing behind by nearly two years before developing a semblance of an AI initiative. The proposed 2021 budget for the national security budget in the US is $740 billion - with a billions of dollars being earmarked for AI specifically (learn more: US Public Sector AI Opportunity Report). 

This week we kick off the first episode in our new AI Futures series. This 12-part series will focus on the near-term and long-term governance of artificial intelligence. Our intention with this series is to take our grounding in the near-term applications or artificial intelligence, and extend the conversation forward to the long-term implications of AI.

This article was a request from one of our Catalyst members. The Catalyst Advisory Program is a coaching program involving one-to-one advisory, weekly group Q-and-A with other Catalyst members, and a series of proprietary resources and frameworks based on insights from AI leaders at the world’s largest enterprises (AI adopters and buyers), and successful AI vendors and service providers. Learn more and apply emerj.com/catalyst.

At Emerj, for over three years, we've been tracking the development of artificial intelligence startups and solution providers across industries, speaking to founders and team members and communicating with the enterprise leaders and buyers who depend on this ecosystem of AI solutions. 

Emerj serves enterprises to form their AI strategies, and data audits are part of Emerj's framework for identifying high-ROI AI projects. In this article, we'll break down a slice of this framework, walking through some pragmatic steps leaders can take to drive toward industry-leading outcomes in their organization.

After spending the last two weekends putting the finishing touches on our new AI ROI Cheat Sheet, my mind is swirling with quotes and AI ROI "rules of thumb" from some of our smartest interviewees and research advisors.

We see evidence dating back to 2017 that Johnson & Johnson has been regularly publishing about their investments and initiatives related to artificial intelligence. At present, Johnson & Johnson does not seem to boast any mature, deployed applications with the firm itself, but its AI-related investment initiatives indicate their aspirations.

What to do when your clients want to cut costs?

Help them cut costs, and be part of a bigger vision beyond cost-cutting.

Leading retailers - like Walmart, Stop & Shop, and Home Depot - are enhancing their payment and fraud detection systems, using artificial intelligence that learns transaction norms and infers risk from the context of each transaction.