The era of AI business value has arrived. In fact, in a recent Deloitte survey, 82 percent of early adopters said they saw a financial return from their AI investments.
AI and related technologies are enhancing existing products and creating new ones. They are optimizing internal and external operations, helping organizations to make better decisions, and freeing up employees to be more creative and to produce higher-value work, among a wide range of other benefits.
It’s little wonder then that 88 percent of companies plan to increase spending on cognitive technologies in the year ahead.
AI is no miracle cure for all business problems, however, and adoption can be anything but easy. Following is a look at the most significant challenges companies must overcome before they can see positive results from their AI deployments.
The biggest obstacle to launching an AI project is data. Specifically, the lack of usable and relevant data that’s free of built-in biases and doesn’t infringe on privacy rights.
According to Deloitte’s survey, 16 percent of IT leaders ranked data issues as their top AI-related challenge, more than any other issue, and 39 percent of respondents put data in the top three areas of concern.