A naukri.com initiative
Unite
1M
173
Image Credit: Unite
Why Most Investment in AI Will Underdeliver or Fail
- 80% of AI projects are predicted to fail due to businesses not adequately preparing for technological change despite planning to spend over $25 million on AI.
- Failures are often attributed to prioritizing technology over business goals, leading to unclear objectives and poor data quality.
- It is crucial for organizations to identify specific business problems AI solutions aim to solve before technical implementation begins.
- Business strategy should precede technology implementation to drive measurable outcomes like cost reduction and revenue increase.
- Overambitious AI implementations often lead to failure, and businesses should start small and scale strategically for better results.
- The 'zone to win' framework helps balance current operations with future innovation, facilitating successful AI integration without disruption.
- Lack of user adoption is a significant issue in AI implementation, highlighting the importance of change management and proper user training.
- Operationalizing AI tools into workflows and ensuring mainstream adoption are critical for successful integration and maximizing AI potential.
- Change management initiatives with designated leadership teams are essential to address training gaps and encourage user acceptance of AI technologies.
- Successful AI investments require upgrading change management, implementing initiatives gradually, and using measurable KPIs to ensure profitable outcomes.
Read Full Article
10 Likes
For uninterrupted reading, download the app