AI strategy not technology crucial for business impact - TechHQ

Without strategy, AI tools won't make an impact. Most organizations would find it hard to operate without the technology they have today, and more are planning to invest larger sums to keep up in the digital marathon. This year alone, worldwide spending on digital transformation is predicted by International Data Corporation (IDC) to reach US$1.18 trillion, and the figure doubles to US$2.3 trillion by 2023. The significant investment represents a drive for companies, from startups to major government departments and national organizations, to integrate technology to streamline organizational workflow. Although the motivation to adopt digital transformation is prevalent in the majority of organizations, a lack of business impact from artificial intelligence (AI) is driving morale down in organizations. A survey by MIT Sloan Management Review and Boston Consulting Group, which consulted more than 2,500 executives, showed that 70 percent of organizations are experiencing minimal or no business impact from AI.