Traditional organisations have high hopes for AI, but strategic shortcomings are severely restricting their ambitions.
Thats according to a new report fromSilo AI, astartupbased in Finland.
That gives it a window into mainstream adoption of the tech.
The new research paints a more detailed picture.
The report analysed various traditional businesses and organisations.
Silo surveyed companies from assorted industries, from manufacturing and construction to financial services and the public sector.
Despite a medianage of 87, all of them were engaging with artificial intelligence at some level.
Almost two-thirds (65%) also have prior AI projects that have already progressed into production.
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Their efforts, however, arent always successful.
Almost half of them feel at best neutral about the results.
Digging into thedata, Silo discovered that unclear strategies and absent executives are holding companies back.
This fracturedlandscape creates several problems.
All the initiatives should also clearly align with specific business objectives.
Beyond the broader strategies, Silo suggests several specific measures.
One is creatingframeworks to assess the ROI of AI projects.
The new research provides evidence of the benefits.
Just over a quarter of respondents already have such frameworks in place.
However, 37.5% of organisations that are happy with their AI initiatives have developed these structures.
Of those who feel neutral at best, only 15.7% have them.
Silo also advises organisations to establish an AI centre of excellence.
These units work with different departments to make the projects accessible and cost-effective across the company.
This holistic approach enables organisations to extract maximum value from their investments in AI, Sarlin said.
That approach, he added, wont deliver overnight results.
Its becoming clear that, like with any other technology, there are no quick wins with AI.
One of the themes of this years TNW Conference is Ren-AI-ssance: The AI-Powered Rebirth.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
