Authors:
Tobias Eljasik-Swoboda
1
;
Christian Rathgeber
1
and
Rainer Hasenauer
2
Affiliations:
1
ONTEC AG, Ernst-Melchior-Gasse 24/DG, Vienna and Austria
;
2
Marketing Management Institute, Wirtschaftsuniversität Wien and Hi-Tech Center, Vienna and Austria
Keyword(s):
Artificial Intelligence Readiness, Technology Readiness, Market Readiness, Innovation, Innovation Management, Organizational Concepts and Best Practices, Data Privacy and Security, Data Management and Quality, Data and Information Quality.
Related
Ontology
Subjects/Areas/Topics:
Data and Application Security and Privacy
;
Data Engineering
;
Data Management and Quality
;
Data Privacy and Security
;
Databases and Data Security
;
Information and Systems Security
;
Information Quality
;
Organizational Concepts and Best Practices
Abstract:
Every innovation begins with an idea. To make this idea a valuable novelty worth investing in requires identification, assessment and management of innovation projects under two primary aspects: The Market Readiness Level (MRL) measures if there is actually a market willing to buy the envisioned product. The Technology Readiness Level (TRL) measures the capability to produce the product. The READINESSnavigator is a state of the art software tool that supports innovators and investors in managing these aspects of innovation projects. The existing technology readiness levels neatly model the production of physical goods but fall short in assessing data based products such as those based on Artificial Intelligence (AI) and Machine Learning (ML). In this paper we describe our extension of the READINESSnavigator with AI and ML relevant readiness levels and evaluate its usefulness in the context of 25 different AI projects.