IMPACT REPORT

Embracing a Holistic Approach to Data

Location
Vancouver, Canada
project highlight

With the upcoming expansion into the US, redefining this one process has had tremendous impacts on cost management, operational scalability and sustained growth.

vp technology

Challenge

One of the most recognized food & beverage brands was on a mission to double their revenue through geographic expansion, but wanted to do so without doubling headcount. The project was about leveraging the power of AI to grow their business using data and technology, rather than human capital. The company looked to Farpoint to conduct an Artificial Intelligence Impact Assessment to identify and understand the areas where AI could have the greatest transformation impact on existing workflows.

Approach

Going into this project, the team at Farpoint entered with a robust grasp of the macro market forces affecting the client but recognized the need for a more nuanced understanding of the internal dynamics within and across their departments. To achieve this, we embarked on a comprehensive data acquisition process, engaging in stakeholder interviews across various levels of the organization. Our approach involved a multi-dimensional analysis of the collected multi-modal data, through which we distilled 20 key problems. For each identified issue, we crafted novel AI proposals, subsequently ranking these opportunities using Farpoint’s AI prioritization matrix. This tool allowed us to model the potential impact of each solution across seven dimensions, ultimately leading us to select the three most impactful solutions. For these, we developed a detailed financial Return on AI (ROAI) model to illuminate the business impact.

In parallel, we conducted an in-depth analysis of workflows, time studies, and experience blueprints, incorporating stakeholder interviews to gain insights into the organization's cultural and infrastructural fabric. These ethnographies were instrumental in understanding the employees' perspectives on internal changes, their expectations, grievances, and the gaps in the current setup. 

Building on this groundwork, we integrated the three-horizon framework to strategically architect AI systems that are both interoperable and scalable. This approach involves crafting a forward-looking AI roadmap, which outlines a phased implementation strategy across 1, 3, and 5-year milestones. Our vision extends beyond addressing the client's immediate challenges; it's about engineering resilient AI solutions that are designed to adapt and thrive amidst rapid technological advancements, ensuring they remain relevant and valuable in the dynamic landscape of the next decade.

Impact

Using the insights gathered, Farpoint designed a playbook that helped the client map the new shifting landscape. An example within this playbook is a redesigned AI competitor analysis workflow, that leveraged AI to take in a holistic aperture of the macro landscape. This new framing not only automated the activities identified in the workflows, but augmented this entire function, allowing the client to change from a reactive to proactive stance on competitive analysis. 

The leadership team was empowered with an understanding of the specific impacts that the AI revolution would have not only on their organization but their competitors and the industry at large.

Metrics

78%
Improvement on time saved
+4.7%
EBITDA
+$15M
NPV

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