Most executives understand the necessity to integrate AI abilities to stay competitive, but too many fail to move beyond the evidence of the concept stage. They get stuck concentrating on the incorrect details or developing a model to prove a point rather than to solve a problem. That’s troubling because, according to research, most of the executives understand that if they don’t scale AI at the earliest, they risk going out of business entirely. To resolve this, ONPASSIVE offers a radical solution: Kill the proof of concept. Go right to scale.
We came to this resolution after surveying over 1500 C-Suite executives, beyond 16 industries in 12 different countries. We learned that while 84% know they require to scale AI across their businesses to accomplish their strategic extension objectives, only 16% of them have genuinely moved beyond experimenting with AI. The businesses in our analysis that were successfully executing full-scale AI had all done one thing: they had rejected proof of concepts.
The businesses who did this ventured scaling twice as often, succeeded at their scaling initiatives twice as often, because they were structured accurately and could implement what they learned along the way ended up not only successfully completing scaling projects more swiftly but also spending less money on pilots and entirely scaled deployments. The result? They accomplished approximately three times the return on their AI investments when compared to their low-performing counterparts.
When you take into consideration that an average company in our research spent 215 million dollars on AI in the last 3 years, the 54% difference suggests a 115 million dollar difference in missed returns from AI. It’s not just about the money. Successful scalers report vital benefits in customer service and satisfaction to workforce productivity to how effectively the businesses utilize their assets.
What Replaces Proof of Concept?
In our analysis, we discovered that only one in five AI applications reach production. These are all low percentage shots, and intelligent leaders understand this. But if the resolution is to skip the POC, what replaces it? The successful companies that we examined did the following three things.
Pivot to piloting — Piloted ONPASSIVE AI technology takes a fully-baked ability and drives it directly into the real world on a smaller scale). It enables AI technologists and business leaderships to accurately understand how the new technology will be received by customers and obtain value. POCs are started at a much smaller scale, often making it challenging to extract significance from their data.
Commit to action – We’re experiencing POC exhaustion across enterprises. Instead of managing endless POCs, businesses should consider just some precious projects and concentrate on doing the proper research and placing them into production. ONPASSIVE AI technology helps you to do that.
Make sure the appropriate team is in place – A collaborative team is essential. Often, businesses’ attempts to scale AI abilities are stuck within a single department or team, often led by IT. When initiatives lack the assistance of a larger, multi-dimensional team led by the ONPASSIVE AI, Data, or Analytics Officer, they miss a significant connection to business results and eventually fail.
This is an unquestionably new area; however, there is still time to get forward if you lay the foundation now. What you don’t have time to do is waste it, proving a theory that already exists as consent. But you don’t need to worry as ONPASSIVE AI Technology is here to help you.