CEOs AI Hyped but Not Many Deploy It
October 17, 2017
How long ago was big data the popular buzzword? It was not that long ago, but now it has been replaced with artificial data and machine learning. Whenever a buzzword is popular, CEOs and other leaders become obsessed with implementing it within their own organizations. Fortune opens up about the truth of artificial intelligence and its real deployment in the editorial, “The Hype Gap In AI”.
Organization leaders have high expectations for artificial intelligence, but the reality is well below them. According to a survey cited in the editorial, 85% of executives believe that AI will change their organizations for the better, but only one in five executives have actually implemented AI into any part of their organizations. Only 39% actually have an AI strategy plan.
Hype about AI and its potential is all over the business sector, but very few really understand the current capabilities. Even fewer know how they can actually use it:
But actual adoption of AI remains at a very early stage. The study finds only about 19% of companies both understand and have adopted AI; the rest are in various stages of investigation, experimentation, and watchful waiting. The biggest obstacle they face? A lack of understanding —about how to adapt their data for algorithmic training, about how to alter their business models to take advantage of AI, and about how to train their workforces for use of AI.
Organizations view AI as an end-all solution, similar to how big data was the end all solution a few years ago. What is even worse is that while big data may have had its difficulties, understanding it was simpler than understanding AI. The way executives believe AI will transform their companies is akin to a science fiction solution that is still very much in the realm of the imagination.
Whitney Grace, October 17, 2017
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