Artificial Intelligence is the most important catalyst for shaping a better future. We strongly believe it is the most powerful technology to improve and expand welfare, businesses, and ourselves. However, most organizations struggle to unlock AI’s potential.
In this blog, we outline the most common struggles with AI and explain how to create the greatest impact with it.
Struggles in Making an AI Project a Success
Most AI projects fail due to one or more of the following struggles:
- A lack of a clear business case and impact.
- No effective collaboration among project stakeholders.
- An absence of expert AI skills.
- A lack of a holistic and sustainable approach to using AI.
We firmly believe we can avoid all these pitfalls, create impact, and help all IT leaders get from POC to a successful AI implementation!
Did you know?
70% of organizations surveyed say they have seen little to no impact from AI so far.
If managed well, an AI solution increases the EBIT by 20% or more.
50% of IT leaders will struggle with moving AI projects from proof of concept (POC) to production through 2023.
Successful AI Projects Increase Profits Enormously
The impact of an impactful AI solution is enormous: 48% of organizations report that 20% or more of their earnings before interest and taxes (EBIT) are due to successful AI projects. Why? Because with AI, processes are automated to boost productivity and efficiency, creating more value and revenue for your business.
2 examples of how AI can create an impact
We developed an AI-powered optimizer with Atlas Copco to speed up the production planning process and improve the on-time delivery rate. The impact was tremendous: our optimizer spends 91.6% less time on production planning than a human planner.
We worked with Flanders Investment and Trade (FIT) to create a solution that optimizes the question-answering process. Our solution reduces the time spent on cases by 27%, allowing FIT advisors to help 36% more clients.
Want to learn how to create impactful AI solutions that increase your EBIT?
Book a meeting with a Radix AI expert to discover the possibilities!
