Judging from the numbers above which are from Deloitte’s 2017 State of Cognitive survey, it seems that only a tiny minority (6%) of the corporations are having a smooth ride with AI. We found the survey results realistic and combined them with our experience with companies that reached out to us regarding advice on their AI solutions. We think there are 2 classes of issues
Issues with building own AI solutions
Lack of business alignment
Identifying business cases for AI applications requires managers to have a deep understanding of current AI technologies, their limitations and the current processes of their division. As with any nascent field, lack of AI know-how in management is hindering adoption in most cases.
Another malaise for emerging technologies is hyper optimism, leading teams to work without clear ROI tracking towards impossible goals. AI also suffers from this as managers can be led to hyper optimism after reading unrealistically optimist studies promoted by vendors and feeling that they are falling behind the curve.
Difficulty of building competent solutions
AI talent war has been excessively documented. Though exact supply demand dynamics are hard to model, comparing the multi trillion $ AI opportunity predicted by numerous consulting companies with the meager numbers of researchers with strong AI credentials, it is obvious that AI talent is expensive.
This leads most non FAMGA (Facebook, Apple, Microsoft, Google, Amazon) companies to end up working with smaller, second tier teams and suffering from longer development cycles.
Difficulty of assessing vendors
While tech procurement is challenging in any emerging field, AI is particularly vulnerable as a large number of non-AI companies engage in AI washing, some AI companies exaggerate their achievements and businesses do not know exactly how they will use AI effectively in their business.
It is hard for managers to identify the areas they need to work with AI vendors and identify leading vendors. On this front, we have worked to help corporations. We not only created a list of top AI use cases for different industries and business functions but also built the largest AI vendors database. If you still are facing challenges with AI solutions, we would love to help.