Last week, The Wall Street Journal published an article titled “Companies Had Fun Experimenting With AI. Now They Have to Show the Returns (Lin, 2024).” The author Bele Lin pointed out that 70% of generative AI projects have stayed within the science experiment phase. Out of all generative AI projects, those stuck in testing and those that have either moved beyond testing or canceled, fully 90% never go into production. Lin also noted that to be successful, projects need access to corporate data. I wholeheartedly agree with this, and all research points to it.
I am seeing the same trends.
Generative AI is getting the spotlight right now. Organizations need to think broadly about AI. Think beyond generative AI. Think bigger, and don’t forget Machine Learning, Recommendation Engines, and other forms of Natural Language Processing.
AI is just another tool for digital transformation. Analyze your entire organization, where improvements can be made to drive top-line revenue growth and decrease costs to grow the bottom line. Then, get your data sorted.
I’m curious: what use cases are showing positive ROIs for you?
Lin, B. (2024, October 9). Companies Had Fun Experimenting With AI. Now They Have to Show the Returns. Wall Street Journal. https://www.wsj.com/articles/companies-had-fun-experimenting-with-ai-now-they-have-to-show-the-returns-2a683592