RESEARCH SUMMARY
A summary of a research project with preliminary findings
Working Paper: Research Summary
Explanation: A New Enterprise Data Monetization Capability for AI
AI’s opaqueness, malleability, iffiness, and unproven nature require that companies build an enterprise data monetization capability termed “explanation.”
Abstract
Artificial intelligence (AI) offers huge potential benefits for companies around the world. Companies that learn how to develop and deploy AI effectively will be positioned to maximize value creation in the emerging algorithmic economy, where algorithms will enable key business activities. Uptake of AI has been limited, however, and there are mounting associated concerns. This report explores what companies need to better understand about AI so they can make the most of this transformational phenomenon. The report describes distinct AI characteristics and their implications for enterprise data monetization capabilities, including a new requisite capability termed explanation.
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About the Authors
Barbara H. Wixom, Principal Research Scientist, MIT Sloan Center for Information Systems Research (CISR)
Ida A. Someh, Lecturer in Business Information Systems, UQ Business School at The University of Queensland, Australia
Angela Zutavern, Managing Director, AlixPartners
MIT CENTER FOR INFORMATION SYSTEMS RESEARCH (CISR)
Founded in 1974 and grounded in MIT's tradition of combining academic knowledge and practical purpose, MIT CISR helps executives meet the challenge of leading increasingly digital and data-driven organizations. We work directly with digital leaders, executives, and boards to develop our insights. Our consortium forms a global community that comprises around seventy organizations.
AlixPartners
Avanade
Cognizant
Collibra
IFS
Alcon Vision
Amcor
ANZ Banking Group (Australia)
AustralianSuper
Banco Bradesco S.A. (Brazil)
Banco do Brasil S.A.
Bank of Queensland (Australia)
Barclays (UK)
BNP Paribas (France)
Bupa
CarMax
Caterpillar, Inc.
Cemex (Mexico)
Cencora
CIBC (Canada)
Cochlear Limited (Australia)
Commonwealth Superannuation Corp. (Australia)
Cuscal Limited (Australia)
CVS Health
Dawn Foods
DBS Bank Ltd. (Singapore)
Doosan Corporation (Korea)
Fidelity Investments
Fomento Economico Mexicano, S.A.B., de C.V.
Fortum (Finland)
Genentech
Gilbane Building Co.
International Motors
Jewelers Mutual
Kaiser Permanente
Keurig Dr Pepper
King & Wood Mallesons (Australia)
Mater Private Hospital (Ireland)
Nasdaq, Inc.
Nomura Holdings, Inc. (Japan)
Nomura Research Institute, Ltd. Systems Consulting Division (Japan)
Novo Nordisk A/S (Denmark)
OCP Group
Pacific Life Insurance Company
Pentagon Federal Credit Union
Posten Bring AS (Norway)
Principal Life Insurance Company
QBE
Ramsay Health Care (Australia)
Reserve Bank of Australia
RTX
Saint-Gobain
Scentre Group Limited (Australia)
Schneider Electric Industries SAS (France)
Tabcorp Holdings (Australia)
Telstra Limited (Australia)
Terumo Corporation (Japan)
Tetra Pak (Sweden)
Truist Financial Corporation
UniSuper Management Pty Ltd (Australia)
Uniting (Australia)
USAA
Vanguard
WestRock Company
Wolters Kluwer Financial & Corporate Compliance
Xenco Medical
Zoetis Services LLC
MIT CISR Associate Members
MIT CISR wishes to thank all of our associate members for their support and contributions.