I lead digital accelerations for companies across all industries. The Encyclopedia Britannica defines artificial intelligence (AI) as "the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings." In simple terms, AI allows computers to perform tasks generally done by humans. While much is said about what AI is, less is said about what exactly it can achieve for your company. In addition to automating workflows and tasks, AI is fulfilling functions of great importance in the daily processes of some of the best-valued companies worldwide.

The benefits of digital transformation derive from the combination of its two key building blocks, technology and people, though there's debate about which plays a more important role. Clearly, it's technological advances that make digital transformation possible – big leaps in cloud computing, data analytics, edge computing, and artificial intelligence. On the other hand, you'll often hear that "digital transformation is about people, not technology." However, at its most advanced, digital transformation is not precisely about people or technology, but about the relationship between people and technology. When these two powerful entities are merged with a digital transformation strategy, a business reaps major productivity benefits that neither element can deliver by itself.

This productivity improvement also decreased the price of the Ford Model T and increased production tenfold to around 300,000 cars. That's more than the company's 300 competitors built with four times the number of employees. Critically, however, Ford's increase in productivity also drove a rapid growth in the business that created more jobs and almost doubled wages. In 1914 Henry Ford raised the average pay in his factories from $2.54 to $5 per day. Thanks to the moving assembly line, more people worked and made more money.