How to prioritize AI initiatives [Video]

Credit: Santhosh Gottigere

“There are only two types of companies in this world, those who are great at AI and everybody else. If you don’t know AI, you are going to fail, period, end of story. You have to understand it, because it will have a significant impact on every single thing that you do. There’s no avoiding it.” – Mark Cuban. 

This quote sums up the need for companies to prioritize artificial intelligence (AI) initiatives and also captures the state of the AI race today. According to recent research by Boston Consulting Group: 

• Only 4% of companies adopting AI have reaped significant value from the technology. 
• 22% have implemented an AI strategy, built advanced capabilities and are beginning to realize substantial gains. 
• 74% of companies are struggling to achieve value and scale. 

Over the past three years, AI leaders in the 22% bracket have achieved 1.5 times higher revenue growth, 1.6 times greater …