AI in Practice

Summary

This course focuses on developing specific strategic applications of AI to meaningfully solve real business problems. Students will be exposed to a wide range of real-world case studies that demonstrate AI in practice.

Objectives

This course will consist of three core components. Firstly, we will aim to consolidate our understanding of different AI methods to better inform strategy and decision-making. We will focus on AI explainability, time series forecasting, and deep learning. Moreover, we will have a dedicated coding session on implementing some of these methods using Python (no prior coding experience is required). Secondly, we will focus on case studies from a range of different application areas, so we can learn from other disciplines and better appreciate the role of adopting an interdisciplinary approach to problem-solving. And finally, we will discuss strategies for developing an AI system that will create value and drive growth. Moreover, students will begin to develop concepts for AI systems that could be used in their organisation or industry.

Contents

The course will cover a broad range of application cases from many industries that students can see the breadth of potential applications in areas including marketing, finance, healthcare management and energy. In addition, we will have sessions focussing on scenario planning, cyber security, and business alignment in executing an AI strategy. Students will also learn about the importance of considering the human (customer/user and employee/worker) aspects of AI systems and why, despite being based on data and technology, AI systems must be developed from a "humans-first" perspective.

In this module, you will develop the skills to systematically approach the development of AI systems for value creation, identifying, mapping and prioritising opportunities across the boundary of the firm: internal improvement, versus external growth drivers. From the internal perspective, we will develop an understanding of how AI is changing the functional components of the firm, from operations to finance, marketing, and beyond. Externally, we will create an understanding of how sectors, professions, and entire markets are being reshaped as a function of AI, from healthcare, to finance, energy, and others. We will leverage these differences to cement our general strategic approach, identifying boundaries and conditions that create differential costs, opportunities, and value.

In the process of developing this strategic skillset, the module will focus on the human-AI interaction, and maintain the importance of a human-first perspective in the pursuit of these efficiency gains and growth drivers, resulting in a set of principles that are entirely consistent with our previous discussions in modules one and two of the course, and to prepare for the required leadership in this space.

Requirements

none