The digital revolution forced every organization to reinvent itself, or at least rethink how it goes about doing business. Most large companies have invested substantial cash in what is generally labelled "digital transformation." While those investments are projected to top $6.8 trillion by 2023, they're often made without seeing clear benefits or ROI. Although these failures have multiple causes, they are generally the result of underestimating the various steps or stages required to successfully execute a transformation agenda. For example, common errors include the naïve assumption that by simply buying technology -- or investing in any of the fancy tools or shiny new objects of the booming tech market -- organizations will somehow transform.

Let's face it: AI investments are just that -- investments, where substantial costs in people, infrastructure, data (collection, hygiene), processes and tools are needed to realize the benefits of the AI deployment, be they efficiency, cost reduction, or revenue and growth. Universally, AI is recognized as a complex and often costly undertaking. For those reasons, AI is considered, but often not adopted, as a key lever in larger business transformation programs. Gartner, McKinsey and others have found that anywhere between 40% to 50% of enterprises planned to deploy or have deployed AI technologies by the end of 2020. This AI adoption curve includes companies undertaking "proofs of concept" as well as those deploying AI on use cases "at scale."

Transformation is an important concept and practice in contemporary business terrain. An investigation uncovered the prospects of a whopping 75% of standard and poor's 500 overall revenue over the following 15 years. A different investigation via artificial intelligence business tool uncovered more than three enterprises will be removed from the list over the following five years. The third investigation revealed an increase in the frequency at which frontrunner firms would lose their prominent ranking in a single epoch. In the contemporary commercial terrain, it is certainly not sufficient to be content with swelling progression. It is much more important for firms to intermittently experience transformations that is required acquire and maintain an elevated position.