The Secret Sauce to AI Success: Selecting the Right Business Use Case
Artificial intelligence (AI) has captured the imagination of businesses across industries with its promise of transformation and growth. However, the reality is that many AI projects fail to deliver tangible results. According to a recent survey by Accenture, only 12% of firms have advanced their AI maturity enough to achieve superior growth and business transformation. Furthermore, Gartner estimates that only 53% of AI projects make it from prototypes to production.
So, what&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPVVOZHBKN1J3dm13QXBic0NhZGZFZUZsZ2lIbmlrWlhOUWNXaHRVbEExYVZaTWJuY3pUVWRHUmtaMVVUMDk-8217;s behind the lackluster success of AI projects? And what is the secret sauce to AI success?
Many executives and managers get caught up in the hype surrounding AI technology. They focus on the shiny objects and the promises made by vendors, analysts, and the media. However, the secret sauce to AI success lies elsewhere. It lies in selecting the right business use case – a robust and expansive one.
The choice of a robust and expansive business use case is what separates successful AI initiatives from disjointed projects. It&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPVVOZHBKN1J3dm13QXBic0NhZGZFZUZsZ2lIbmlrWlhOUWNXaHRVbEExYVZaTWJuY3pUVWRHUmtaMVVUMDk-8217;s the reason why businesses should deploy AI in the first place and invest in the necessary resources. Without a robust and expansive use case, even successful components like data, algorithms, skillsets, infrastructure, tools, and executive support may not lead to a successful AI project.
An example of a robust and expansive business use case is the application of AI to digital twins – 3D and virtual replications of systems, supply chains, facilities, or entire organizations. With AI, decision-makers can run simulations and model scenarios to understand the long-term impact of their decisions. For instance, airports are using digital twin technology to improve customer experiences by monitoring climate control and predicting passenger traffic flow. At the higher levels of organizations, AI-powered digital twins can assess and predict the impact of decisions on growth, resources, and revenues.
The key to AI success lies in visualizing, gaining business buy-in, and prioritizing robust and expansive use cases. Once the use case is determined, businesses can assemble the supporting technology to bring it to life. This involves synchronizing the various components of AI, such as data collection, infrastructure, models, training, funding, and a data-driven culture. However, the foundation for success lies in the selection of the right use case.
Successful implementation of AI requires a deep understanding of a business problem or opportunity and the ability to act on it. It&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPVVOZHBKN1J3dm13QXBic0NhZGZFZUZsZ2lIbmlrWlhOUWNXaHRVbEExYVZaTWJuY3pUVWRHUmtaMVVUMDk-8217;s not enough to focus solely on the success of a specific project without considering the business value and return on investment. Failure to communicate the business value to executives and stakeholders can lead to disastrous outcomes. In fact, this is the most common case for the failure of AI projects.
In our next article, we will delve into how to capitalize on AI&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPVVOZHBKN1J3dm13QXBic0NhZGZFZUZsZ2lIbmlrWlhOUWNXaHRVbEExYVZaTWJuY3pUVWRHUmtaMVVUMDk-8217;s secret sauce and develop a robust and expansive AI business case. Stay tuned for more insights on unlocking the full potential of AI in business.
About the Authors:
This article was co-authored by Andy Thurai, Vice President and Principal Analyst with Constellation Research. Andy is an industry thought leader and expert in AI, cloud computing, and digital transformation. His expertise and insights contribute to the understanding and application of AI in business contexts.
Joe McKendrick is an independent researcher, author, and speaker specializing in innovation, IT trends, and markets. He has extensive experience in the technology industry and has co-chaired the AI Summit. Joe&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPVVOZHBKN1J3dm13QXBic0NhZGZFZUZsZ2lIbmlrWlhOUWNXaHRVbEExYVZaTWJuY3pUVWRHUmtaMVVUMDk-8217;s research work, in collaboration with Forbes Insights and Unisphere Research, covers topics such as AI, cloud computing, digital transformation, and big data analytics. He regularly contributes to publications like Harvard Business Review and CNET, providing valuable insights into the intersection of business and technology.
Follow Joe McKendrick on Twitter for more updates and thought-provoking articles in the field of technology and innovation.
