From the course: Artificial Intelligence and Business Strategy
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Using AI to drive product innovation
From the course: Artificial Intelligence and Business Strategy
Using AI to drive product innovation
- AI can drive product innovation in one or both of two ways. As an embedded feature of the end product, or as a tool to design and develop the end product. I use the generic term product to refer to both products and services. Let's look at AI as an embedded feature of the end product. The starting point must always be to gain insights into your customer's known as well as hidden needs. Doing so often requires immersion in the customer's world, as well as understanding the needs of their customers. Deep insights will almost always reveal that some needs are being met at best partially, and some not at all. The next step is to explore how one or more AI tools, computer vision, natural language processing, complex computational capability, or robotics, can be embedded in the product to meet these needs more completely. As an example, take John Deere's See & Spray tractors. In recent years, environmental sustainability has…
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