In popular folklore, a silver bullet was a magical solution to slay a formidable foe such as a werewolf. In today’s business world, the foes are operational inefficiency, infrastructural defects and customer service bottlenecks – and businesses think AI is the silver bullet to fix all of their problems. Here’s one example: 75% of IT decision makers believe that AI is the silver bullet to solving cybersecurity challenges, but if this belief isn’t paired with a holistic AI strategy or solid execution, AI projects are doomed to fail.
Something I’ve noticed often when talking to AI newcomers is that they expect too much, too soon, and in doing so set themselves up for failure. An excellent recent piece in the MIT Tech Review shed light on the difficulties businesses are having navigating such a steep learning curve. They may come to the AI playing field with a heightened perception of AI, borne out of stories of the all-conquering AlphaGo or driverless cars – but they receive a sharp reality check when trying to use the technology for incremental gains in their business.
This is why it’s so important for the marketplace to sidestep the AI hype in favour of results-driven, AI pragmatism.
BCG and MIT Sloan Management Review surveyed 3,000 execs worldwide and found high expectations for AI: most companies expect results in the next five years on IT, operations and manufacturing, supply chain management, and customer-facing activities. But while more than 60% of respondents said that a strategy for AI is urgent for their organizations, only half of those said that their organizations have a strategy in place.
As outlined in the report, enterprises stated three main factors behind their slow AI adoption:
i) lack of an AI strategy,
ii) lack of awareness about AI capabilities, and
iii) lack of AI talent in their organisations.
Couple this with the fact that only 53% of IT decisions makers say their organizations understand the difference between ‘Machine Learning’ and ‘Artificial Intelligence’, and it’s clear that there is a yawning gap between ambition and execution when it comes to the adoption of AI.
We designed Nest – the ‘Define’ and ‘Design’ stages of our delivery framework – with these teething issues in mind. NEST is a range of packaged workshops that enables clients to identify specific pain points within their businesses, understand the technology options available, and explore the AI solution that suits them best using a service design-led approach.
Don’t put your eggs in one basket with an off-the-shelf, narrow AI platform that isn’t built to last. With Nest, you can build the groundwork for a bespoke solution alongside an overarching strategy for growth. Defining your outlook early on gives the adoption process a far better chance for success further down the road.
By taking the Nest approach, businesses can ultimately match their AI ambitions with concrete results by finding the AI solution that’s right for them.