Companies Will Spend $50 Billion On Artificial Intelligence This Year With Little To Show For It
Companies are struggling to deliver on AI projects, Khodabandeh says, because they overspend on technology and data scientists, without implementing changes in the business processes that could benefit from AI — a conclusion that echoes a Harvard Business Review report published in June.
Take Uber, last month, engineers at the ride-hailing company concluded that its self-driving cars couldn’t drive more than half a mile before encountering a problem. The BCG and MIT researchers found that 57% of companies said they’ve deployed or piloted their own AI projects, up from 44% in 2018.
For those projects to pay off AI adopters will need to rethink how the tech is integrated within their businesses.