This much-hyped technology is failing businesses. Here's why

AI, which refers to algorithms that learn from and find patterns in huge quantities of data, is fundamentally about giving the right actionable information to someone at the moment of making a decision. Only AI can do that at scale. AI can be used all across the enterprise, in sales, marketing, customer retention, customer support, fraud reduction--anything that requires a prediction based on data and actionable recommendations in order to make an informed business decision. But a recent International Data Corporation survey of global organizations that are already using AI solutions found only 25% have developed an enterprise-wide AI strategy. Most organizations reported failures among their AI projects, with a quarter of them reporting up to a 50% failure rate.