#PaiRED: Intellectual Property and AI

Intellectual property is one of the most valuable assets on the planet. Innovation and the pace companies create new intangible assets is their competitive advantage. Intangible assets are hard to manage, define and value. They make up more of the S&P 500 value than anything else. Traditional metrics are not working with the explosion of this new assets class. Patents, copyrights, training, algorithms and platforms hold a place in organizational success. Understanding and determining the value of intangible assets is difficult. Companies make the decision to ramp up digitization and invest in intangible assets, but it is not easy. It can be a long and expensive road to execute the strategies.

There is a paradigm shift. AI and intangible assets are fostering a new level of understanding about what will be rewarded. The transformation is coming by changing perspective from Man vs. Machine to Man + Machine. The challenge is to combine computer and AI power with human understanding. This requires everyone to up their game. Organizations are beginning to realize that to compete they have to have AI. Many companies have experimented with AI on a small scale. Maybe it is a chatbot in customer service or a bot in HR. Intangible assets open up new efficiencies and increase productivity.

Across the enterprise, new outcomes are possible with AI as an asset. The challenge is to develop strategies that empower everyone and every process. Intangible assets need to be scalable. Then AI services can help achieve business objectives faster. Thanks to the cloud, increased computing power and connection, AI is getting easier. With the huge boost in data access AI can be created, managed and controlled. To reduce operating costs, improve the margin, scale personalized experiences, or create completely new revenue streams, companies profit from speed. Speed is a universal indicator of success in a world that moves more quickly every day. AI is what will make that possible.