AI and ML-Driving and Exponentiating Sustainable and Quantifiable Digital Transformation.

Abstract

AI is a major transforming technology impacting every sector of life. AI is not a force to deprive humans and take over the control, rather a real enabler and lever for digital transformation. The former view aligns with Hollywood movies, and need to be undressed with the latter, which is realistic and becoming tangible over time as more organizations, and communities are leveraging AI's potential. Developing a practical understanding of AI, its capabilities, the challenges, and opportunities that it brings is fundamental to get the maximum out of its envisaged potential. The objective of this paper is to highlight how technology and industry have developed, discuss the role of AI in driving intelligent transformation concentrating on an applicable understanding of AI and related technologies. We introduce a new conceptual framework: AI's multi-dimensional role, to highlight its transformative power in multiple aspects. We also introduce an AI based Information and Model Governance Framework.