Interpreting and Using Matrix Results
Once all your workstreams have been plotted in the AI Prioritization Matrix, how do you interpret the results and identify quick wins, plan major projects, avoid thankless tasks, and balance your firm’s AI portfolio?
Visualizing your prioritization through the Impact vs. Feasibility matrix makes decision-making clear and straightforward. I’ve just updated some content. Each workstream you evaluate lands somewhere within four distinct quadrants, giving your firm a clear path forward.
Quick Wins: Immediate Action
Workstreams scoring high in both impact and feasibility are your "Quick Wins." These are the opportunities you can rapidly execute, delivering clear benefits without significant barriers.
Prioritize these, and run your first AI Pilot Implementation with one of these workstreams. They demonstrate early success, build confidence, and provide momentum for your broader AI initiatives.
Example: Automating routine client reporting, quickly enhancing client satisfaction while freeing internal resources.
Major Projects: Strategic Investments
Workstreams with high impact but lower feasibility fall into the "Major Projects" quadrant. Although they may require more effort, planning, or resources, their strategic value makes them worth the investment.
Careful preparation, resource allocation, and potentially increased granularity can improve feasibility, making them manageable and successful.
Example: Transforming complex auditing processes into AI-driven workflows, requiring substantial planning but offering substantial long-term efficiencies and competitive advantage.
Fill-In Projects: Easy Wins, Limited Reward
Opportunities with high feasibility but lower impact—your "Fill-In Projects"—can be tempting because they're easy to accomplish quickly. However, they may provide limited strategic value.
Consider these selectively, perhaps when resources are available between larger, strategic initiatives.
Example: Automating minor administrative tasks like internal scheduling—helpful, but not game-changing.
Thankless Tasks: Avoid or Defer
Workstreams scoring low on both impact and feasibility are typically "Thankless Tasks." These offer minimal value and can consume unnecessary resources.
Unless their conditions significantly change, it's best to defer or avoid these initiatives altogether.
Example: Updating rarely-used internal reporting processes that involve complex legacy systems and offer negligible improvement.
Practical Guidance for Matrix Application
• Regularly Revisit the Matrix: As conditions change, impact and feasibility scores can shift. Regular reassessment keeps your prioritization relevant. • Balance Your Portfolio: Aim for a healthy mix, prioritizing quick wins first, strategically planning major projects, carefully selecting fill-in tasks, and consciously avoiding thankless ones. • Enhance Granularity Strategically: For high-impact but challenging projects, consider breaking them down to enhance feasibility. Granularity can transform major projects into achievable wins. By clearly interpreting your matrix results, you'll make informed, confident decisions, driving successful and efficient AI adoption across your firm.
