Artificial intelligence is all the rage right now. With the fear of losing out looming over, most companies are looking for a way to capitalize on new AI based initiatives. Too bad they’re going to fail. If history has taught us anything, it’s that early testers of new technology have never fared too well, unless of course, their persistence breaks through the barrier. Just look at the early years of the Internet and Cloud computing if you don’t believe us.
Writing for Harvard Business Review (HBR) about the early years of cloud computing, Kartik Hosanagar and Apoorv Saxena say,
“The (companies) that persisted are incredibly well-positioned today, having transformed their business processes and enabled a level of agility that competitors cannot easily mimic. The vast majority are still playing catch-up.”
Statistics from recent studies show us that nearly half of all work activities could be automated by machine learning and that less than a third of the potential from data analytics investments, by companies in various sectors, have been captured.
According to Kartik,
“AI is a paradigm shift for organizations that have yet to fully embrace and see results from even basic analytics. So creating organizational learning in the new platform is far more important than seeing a big impact in the short run.”
There’s no doubt that AI is here to stay but how well the first wave of corporate AI fares rests solely on the approach they adopt. You can read the full article on why Kartik and Apoorv think the first wave of corporate AI is doomed to fail here.
Image credits – HBR