Artificial intelligence can transform industries and promote innovation but successful deployments can be quite challenging, leaving many organisations to wonder why their AI projects fail, according to Chander Damodaran, MD & global CTO, Brillio, a Dallas, Texas headquartered digital technology company with development centres in Bengaluru, Pune, Hyderabad, and Chennai. Citing a Gartner study, Damodaran said that 85% of AI projects fail to deliver the expected business value. While businesses are adopting AI faster than before, the complexity of enterprise-level AI adoption continues to be a challenge. Organisations who adopted AI before ensuring they had the right data are struggling to prove value and trust with the use-cases built over bad data.
In his opinion, one of the key reason for this is missing good quality and quantity of data. “Many organisations still lack the foundational practices to create value from AI at scale without the right AI strategy at an organisational level. There is a need for a revived AI strategy in this new era of GenAI and co-pilots, where the ecosystem is continuously evolving,” he pointed out.
AI is the tip of the spear. However, two factors that drive the success of AI are data and applications. Its true potential lies in its ability to empower humans, covering the entire lifecycle – from data-preparation to deployment. Today, the focus is shifting from “build with AI,” which merely integrated AI tools into existing processes, to “humanise AI,” which transitions from data and model-centric paradigms to a more application and human-centric ethos rooted in real user needs and experiences, Damodaran said.
“We recommend three key strategies to our customers to evaluate the total business impact that AI can drive. One, rewire technology and people to deliver higher productivity, save costs, and build AI and AI-enabled capabilities. Two, ingrain AI into business processes and operations to infuse AI into the core fabric of the organisation’s methodology. Three, reimagine business models that will fundamentally reshape and disrupt every aspect of businesses,” he added.
According to Damodaran, businesses need to create a “data culture,” which requires shifting data ownership from the hands of specialists in order to democratise data. “This will enable enterprise-wide data access to everyone, helping it to become truly data-driven.”
Brillio’s growing global workforce of 6,000 professionals spans 12 locations across US, UK, Romania, Canada, Mexico and India, with 70% based in India,” he added.
