13 Deploying Artificial Intelligence ^Top Internally, firms can take proactive measures by involving employees during ideation, encouraging creativity for workable innovations, establishing trust with employees by being transparent about the implementation of AI, and alleviating their fears by establishing the human-machine collaboration. Also, investing in reskilling employees will help in agility, collaboration for data, and ease of implementation across functions. PlainsCapital Bank in Texas cre- ated an integrated role, universal banker, to meet increasing demand for digital banking.24 And instead of firing the displaced employees, it trained them in both technical and socioemotional skills to prepare them for the new role. When it comes to external stake- holders, although most companies will proudly announce their use of AI technology, only a few effectively com- municate the value beyond simply a signal of their technological investment into new and emerging fields. Domino’s Pizza did this well by showcasing quantifiable benefits such as increasing order readiness predictions from 75 percent to 95 percent from AI-based solutions developed in a strategic part- nership with Nvidia. This helped boost its market value significantly.25 To meet regulatory requirements, welcoming oversight from and following guidelines of agencies such as the Organization for Economic and Coop- eration Development (OECD) and the World Economic Forum (WEF) are 24 Eva Sage-Gavin, Madhu Vazirani, and Francis Hintermann, “Getting Your Employees Ready for Work in the Age of AI,” MIT Sloan Management Review: Frontiers, February 27, 2019, https://sloanreview.mit.edu/article/get- ting-your-employees-ready-for-work-in-the-age-of-ai/. 25 In July 2020, Domino’s had a price to earnings ratio of 47, which is nearly twice that of its competitors such as Pizza Hut (~25x P/E): Rick Merritt, “Life of Pie: How AI Delivers at Domino’s,” The NVIDIA Blog (blog), NVIDIA, January 13, 2020, https://blogs.nvidia.com/blog/2020/01/13/dominos-pizza-ai/. Simply Wall St, Is Domino’s Pizza, Inc.’s (NYSE:DPZ) High P/E Ratio A Problem For Investors?, January 11, 2020, https://simplywall.st/stocks/us/consumer-services/nyse-dpz/dominos-pizza/news/is-dominos-pizza-inc-s- nysedpz-high-p-e-ratio-a-problem-for-investors-2. Alignment is paramount for successful implementation of a highly misunderstood technology like AI.
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