Artificial Intelligence and Business

Experts suggest that there are some main reasons why companies remain skeptical about AI

21 de agosto del 2018

The prevailing tendency toward the incorporation of Artificial Intelligence (AI) in the business world has become a reality. The need of implementing AI on every company is based in a partial view of the whole picture considering that each business is different and therefore, mentioning the wonders of this technology does not make it a magic solution for all cases.

Expectations regarding the benefits of AI can be very high, however it is important to know your company well and recognize whether it fits with your strategy or not. Regarding MIT Sloan Management Review, “Almost 85% believe AI will allow their companies to obtain or sustain a competitive advantage. But only about one in five companies has incorporated AI in some offerings or processes. Only one in 20 companies has extensively incorporated AI in offerings or processes. Less than 39% of all companies have an AI strategy in place. The largest companies — those with at least 100,000 employees — are the most likely to have an AI strategy, but only half have one.”

Experts suggest that there are some main reasons why companies remain skeptical about AI. The first of them is related to the topic we already mentioned: know your company well. As it turns out, companies struggle to select which problems are more easily solved by AI. Most of the time AI is implemented without real justification, using a minor situation as an excuse to execute experiments with this technology.

We should also consider the problem with IT teams usually focused on application development. Skills required for data science workflows in AI land are very complex and it may happen that your team is not fully prepared to solve major problems.

Organizations need suitable platforms in order to satisfy their requirements, it may be that solutions from big brands with a reliable team and support do not fit well with the particular traits of your company, as they might actually just respond with general prototypes. The most problematic issue is finding someone with the necessary skills to provide a good technological platform, but that also has a deep knowledge of the needs of your company.