GO BIG AND GO HOME

There is no one size fits all for AI. As recognized throughout this report utilizing AI in your business is as much, if not more of an organizational challenge than a technology one. Executives must prioritize the areas of their business where AI can make the most difference.

When asked "to what extent do you agree that for artificial intelligence to be really successful you need to 'either go big or go home?'" 45% agreed and 35% disagreed. While arguably any unified AI strategy, especially for large enterprises must "go big" to achieve its eventual goals, there is something to say for a more limited AI rollout in the short-term. The industry is in a period of reevaluation of the pace it can implement and scale AI solutions. Setting overambitious targets at the beginning will only lead to disappointment in the short-term and increases the potential for wastage of resources and replication of effort internally. Technologically good quality, standardized data across an enterprise or an industry, and having adequate IT infrastructure to support this is the biggest challenge to still face executives. This is where CxOs and company boards need to "go big" to eventually feel the benefits of AI. Until this is achieved, most AI projects will have to "stay home" as they do not have the infrastructure or capabilities to breach organizational silos, unless supported sufficiently in other ways by senior management.

AI's bubble has far from burst, in fact we are just getting started. For the pace of development and adoption to increase it is now more crucial than ever for leadership from the C-suite to improve their education on AI and build out a comprehensive business transformation strategy. Key components for this will be setting priorities for AI competencies the business needs to develop and charting a path to open and standardized data access. With these in hand enterprises will be able to push forward with an AI firework display across their entire business.