Vistra, a major U.S. power producer, had a problem. For its plants to operate efficiently, workers had to continuously monitor hundreds of different indicators, tracking temperatures, pressures, oxygen levels, and pump and fan speeds — and they had to make adjustments in real time. The process involved a huge amount of complexity, and it was too much for even the most skilled operator to get right all the time. To address this challenge, the plant installed an AI-powered tool — a heat-rate optimizer — that analyzed hundreds of inputs and generated recommendations every 30 minutes. Result: a 1% increase in efficiency. That may not sound like much, but it translates into millions in savings as well as lower greenhouse gas emissions.
What Makes a Company Successful at Using AI?
Five areas where top performers stand out.
February 28, 2022
Summary.
Companies in a wide range of industries are trying to integrate analytics and data to improve their operations, with decidedly mixed results. What are top performers doing differently — and better — than others? In general, leading companies did an honest assessment of where they were, formed a vision of where they wanted to be in three or four years, and looked for ways to rack up quick wins. More specifically, they outperformed in five areas: governance, deployment, partnerships, people, and data availability.
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New!
HBR Learning
Digital Intelligence Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Digital Intelligence . Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Excel in a world that's being continually transformed by technology.