What is the first step an organization must take towards developing an Al-based application?

What is the first step an organization must take towards developing an Al-based application?
A . Prioritize Al.
B . Develop a business strategy.
C . Address ethical and legal issues.
D . Develop a data strategy.

View Answer

Answer: D

Explanation:

The first step an organization must take towards developing an AI-based application is to develop a data strategy. The correct answer is option D.

Here’s an in-depth explanation:

Importance of Data: Data is the foundation of any AI system. Without a well-defined data strategy, AI initiatives are likely to fail because the model’s performance heavily depends on the quality and quantity of data.

Components of a Data Strategy: A comprehensive data strategy includes data collection, storage, management, and ensuring data quality. It also involves establishing data governance policies to maintain data integrity and security.

Alignment with Business Goals: The data strategy should align with the organization’s business goals to ensure that the AI applications developed are relevant and add value.

Reference: Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard Business Review, 96(1), 108-116.

Marr, B. (2017). Data Strategy: How to Profit from a World of Big Data, Analytics and the Internet of Things. Kogan Page Publishers.