Most C-suite executives know they need to integrate AI capabilities to stay competitive, but too many of them fail to move beyond the proof of concept stage. They get stuck focusing on the wrong details or building a model to prove a point rather than solve a problem. That’s concerning because, according to our research, three out of four executives believe that if they don’t scale AI in the next five years, they risk going out of business entirely. To fix this, we offer a radical solution: Kill the proof of concept. Go right to scale.
We came to this solution after surveying 1,500 C-suite executives across 16 industries in 12 countries. We discovered that while 84% know they need to scale AI across their businesses to achieve their strategic growth objectives, only 16% of them have actually moved beyond experimenting with AI. The companies in our research that were successfully implementing full-scale AI had all done one thing: they had abandoned proof of concepts.
To scale value in the AI era, the key is to think big and start small: prioritize advanced analytics, governance, ethics, and talent from jump. It also demands planning. Decide what value looks like for you, now and three years from now. Don’t sacrifice your future relevance by being so focused on delivering for today that you aren’t prepared for the next wave. Understand how AI is changing your industry and the world, and have a plan to capitalize on it.
This is certainly new territory, but there is still time to get ahead if you lay the groundwork now. What you don’t have time to do is waste it proving a concept that already exists as consensus.
The original article can be found here.
According to Artificial Intelligence World Society Innovation Network (AIWS.net), AI can be an important tool to serve and strengthen democracy, human rights, and the rule of law. In this effort, Michael Dukakis Institute for Leadership and Innovation (MDI) invites participation and collaboration with think tanks, universities, non-profits, firms, and other entities that share its commitment to the constructive and development of full-scale AI for world society.