How To Approach AI Decisions With Eyes Wide Open
Artificial Intelligence (AI) has dominated the headlines of late. Every day, a new breakthrough is reported, furthering the notion that new AI-enabled capabilities are poised to revolutionize the enterprise. Despite many of these claims having no obvious business application, the pomp and circumstance around them have successfully captured the attention of the C-suite.
Where AI was once considered a bleeding-edge capability, a growing number now see it as a business imperative and a necessary part of their technology toolkit. Consider the following:
- AI expenditure is projected to increase by 200% to $291.5 billion between now and 2026.
- Two-thirds of CDOs view AI as a top priority.
- More than half (56%) of enterprises report AI adoption in at least one function.
The fervor around AI is eerily similar to past technology adoption cycles (e.g., the web boom) and follows a predictable pattern. First, there's an exuberant rush by early adopters, followed by a growing recognition of its complexity, then a slower and more thoughtful adoption by the mainstream as capabilities mature and standards emerge.
What we’re seeing now is the complexity of AI in its many forms creating an ever-growing disconnect between its promise and reality. AI is challenging and business leaders need to approach it with thorough due diligence and eyes wide open.