5 min read

AIQ: What We Mean & What You Stand to Gain

Featured Image
Synaptiq has spent the last decade studying the role of data and artificial intelligence (AI) in organizations. We’ve consulted with our clients, conferred with our partners, collaborated with our competitors, and conducted independent, deep-dive research projects to understand how and why organizations leverage these technologies.

 


Why Do We Care?

 

There’s a lot of hype around data and AI.

“There are seemingly endless ways in which artificial intelligence is beginning to touch our lives, from discovering new materials to new drugs…to picking the fruit we eat and sorting the garbage we throw away.”
- The New York Times

“AI and machine learning are at the top of many lists of the most important skills in today's job market. Jobs requesting AI or machine-learning skills are expected to increase by 71% in the next five years.”
- Forbes

The AI discipline is evolving rapidly through new techniques, dedicated infrastructures, and hardware.”
- Gartner

 

However, the reality is more complicated.

“Artificial intelligence technology is promising, but it’s not a magic potion.”
- The New York Times

“AI implementation is not instantaneous. It takes preparation to ensure that the solutions you've chosen for your business are the right ones and that they will be capable of benefiting your business.”
- Forbes

“The reality is that most organizations struggle to scale the AI pilots into enterprise-wide production, which limits the ability to realize AI’s potential business value.”
- Gartner

 


In 2019, MIT Sloan Management Review and Boston Consulting Group surveyed 2,500 executives for its Artificial Intelligence Global Executive Study and Research Project. The results were damning. Although 90% of respondents agreed that AI represented “a business opportunity for their company,” 70% reported little to no gains from AI so far. Additionally, although 90 percent of respondents’ companies had invested in AI, more than 60% had failed to realize any gains from AI in the past three years.

One might ask: “Has AI return-on-investment (ROI) improved in 2022?” Unfortunately, no. 

We have seen a growing awareness of AI and its applications. McKinsey & Company reported a six percent increase in AI adoption across industries in its latest Global Survey. However, McKinsey & Co. also noted significant contrasts between its “high-performer” respondents—“those who said that at least 20 percent of their organizations’ earnings before interest and taxes was attributable to their use of AI”—and others.

“High-performers” enjoyed significantly higher ROI than their counterparts. The source of their success? Engagement in certain data and AI “best practices”.

These findings echo an enduring pattern. More organizations are growing aware of and, subsequently, adopting AI. But few manage a significant ROI. And interestingly, these “high performers” consistently attribute their success to a shortlist of best practices.

Time and time again, we’ve come to the same conclusion: 

Maturity in eleven key capabilities helps organizations meet their data and AI objectives.

data organization ethics infographic [Recovered]-02-1

 

We call the cumulation of these capabilities AIQ™. Similar to IQ, which represents a reasoning ability according to performance on problem-solving tests, AIQ™ measures an organization’s ability to leverage data and AI according to our in-house assessment.

 


What are the Eleven Capabilities?

Synaptiq’s AIQ™ assessment tests eleven capabilities, each of which represents a broad category of specific data and AI “best practices.” We chose a broad, overarching focus for this initial assessment because no two organizations are the same, so, no two are suited to the same best practices, even if they are striving for maturity in the same capabilities.

Consider “data governance” for example. This AIQ™ capability pertains to the framework by which an organization governs the use of its data assets. An organization with “good” data governance will have formal roles, policies, and metrics to set standards for the efficient, effective use of its data assets and measure progress toward these standards.

Although all organizations should incorporate these data governance practices in some form, no two organizations should incorporate them in the same form. For example, a law firm will have different business objectives and desired outcomes than, say, a hospital. Therefore, these two organizations will need to employ very different practices—practices specifically tailored to their unique needs—in order to achieve data governance maturity.

Consider the following capabilities, with your organization in mind. Although these broad capabilities should help any organization meet its data and AI objectives, your organization should approach them through the practices suited to you.

Ultimately, the best practice is always that which best suits your needs.

What Are The AIQ Capabilities?

 


Why Should You Care?

We developed AIQ™ based on years of successful strategy work for our clients and partners. It’s a comprehensive methodology for leveraging data and AI: technologies that often go un- or under-utilized. Simply put, AIQ™ solves two common  point points:

  1. Organizations miss opportunities by failing to invest in data and AI.

  2. Organizations fumble opportunities by poorly investing in data and AI.

AIQ™ ensures that an organization achieves maturity in the eleven capabilities—the foundation for data and AI-driven initiatives—before they invest in these technologies.

Synaptiq’s AIQ™ assessment can give your organization a measure of its overall maturity. However, for those hungry for more, we also work directly with organizations to determine the practices that will best serve their growth toward individual capabilities.

 

Complete the AIQ assessment

 

Our team has decades of experience in the field, which we’ve used to achieve dozens of success stories across industries. Read more about our past partnerships, and you’ll find a diverse array of solutions, painstakingly shaped to the most pressing needs. 

Whether you’re an early-phase organization that wants to develop business objectives alongside a data and AI strategy; a middle-phase organization that wants to develop a data and AI strategy for business objectives; or a late-phase organization that wants to optimize its data and AI strategy at the market delivery or deployment stage, Synaptiq is here for you.

Additional Reading:

Cross-Species Communication? Researchers Say AI is the Key

Technology Could Help Us Understand Animals

Although animals don’t “speak” like us, they do communicate.  In 1973, ...

We Helped a Non-Profit Expand Road Access in Rural Rwanda

The Mission: Expanding Road Access in Rural Rwanda

In 2020, a non-profit set out to solve a problem: the lack of road...

Artificial Intelligence in the Wild: Helping Conservationists Save Species

Artificial Intelligence in the Wild

Scientists warn that we’re facing Earth's sixth “mass extinction.”

IExtinction is...