Every business leader is eager to harness AI to drive value for their customers, their organizations, and their shareholders. These technologies have the potential to reshape productivity and drive commercial effectiveness, remaking entire industries in the process. The stakes are high, and the pace of change is fast.
But executives without a deep technological background frequently feel lost. They know they should be putting their company's capital to work in AI initiatives, but where will it have the most impact? How can they ensure a return on these investments? Historically, too much money has been sunk into tech investments that ultimately proved disappointing.
AI is no exception. Based on our estimates, over 80% of AI initiatives fail due to misaligned goals, poor execution, and cultural barriers (among other reasons).
To help senior executives—starting with CEOs—begin to navigate these waters, we have developed an AI playbook with practical advice on how to put value creation at the center of your AI strategy.
This playbook focuses on three areas: strategy, execution, and foundational pillars.
- Strategy: Align AI with your strategic business goals. Target the right problems to ensure value creation.
- Execution: Your vision must translate into results. Effective deployment is key.
- Foundations: Secure the right talent, technology, risk management, and data. Don't wait for perfection; assess if your current assets can get the job done.
Read more in our playbook, or reach out to one of us or our team to learn more about how this can be applied within your organization.
Stay positive about AI's impact but remember: only by focusing on these three components – developing the right strategy, executing at speed, and establishing the right foundations – will your organization be best positioned for AI success.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.