14 Deploying Artificial Intelligence ^Top beneficial and address concerns of privacy and security.26 Having a formal AI governance structure in place can make sure ethics are not compromised in building AI solutions, thus building credibility with stakeholders. pitfall #3: limiting ai to only incremental improvements rather than exploring its transformative potential. The easiest option to experiment with the technology is on incremental im- provements, the most common of which are cost efficiencies and/or process automations.27 Although aiming for such quick wins is good for early adoption, it’s important not to get lost in myopic possibilities, limiting oneself to tactical solutions rather than strategic and transformative ones. A relatable example is automating workflows in a clinical setting, which can surely boost clinician productivity in examining patients, resulting in higher revenues for providers.28 However, the true transformative potential of AI lies in precision medicine and surgery, improved clinical trial results, image quality reduction and reconstruction, and more. To gain competitive advantage, an organization should aim at the technology’s larger potential, lest it be lost in the weeds of marginal improvements. The approach to move from process automation to reinvention involves 1) reimagining processes from scratch, 2) capturing the exponential power of dark data (data that organizations collect but don’t use), and 3) unlocking the 26 Alex Castrounis, “How to Set AI Goals,” O’Reilly: Radar, September 15, 2020, https://www.oreilly.com/radar/ how-to-set-ai-goals/. KPMG, Living in an AI World 2020 study: Achievements and challenges of artificial intelligence across five industries, 2020, https://advisory.kpmg.us/content/dam/advisory/en/pdfs/2020/living-in-ai-world.pdf. 27 Deloitte, Global Cost Report: Save-to-transform as a catalyst for embracing digital disruption, 2019-2020, https:// www2.deloitte.com/content/dam/Deloitte/us/Documents/process-and-operations/us-global-cost-survey-2019. pdf. A survey by Deloitte found that the top reasons for applying cognitive and AI technologies is reducing cost. 28 Greg Freiherr, “Is Digitalization Driving Innovation or Innovation Digitalization?,” Siemens Healthineers, Novem- ber 26, 2019, https://www.siemens-healthineers.com/en-us/news/mso-digitalization-and-innovation.html.