In 2017, Forrester predicted a rise in AI investments, and survey respondents proved this prediction true. Firms that invested in AI rose from 40% in 2016 to 51% in 2017. However, results of AI investments haven’t been as impressive as expected as 55% of firms say they have not yet achieved tangible business outcomes from AI.
According to Forrester’s 2018 predictions, the rise in AI investments that miss the mark will continue to grow. In fact, Forrester states 75% of AI projects will underwhelm due to operational oversights. As such, enterprises will need leaders to realize that they need better data foundations, cloud computing, and big data projects that require harder work. Leaders need to rethink the scope of their AI investments.
Since 70% of enterprises plan to implement AI over the next 12 months, what is to be done? In other words, how do you ensure your AI project doesn’t fall victim to this prediction and your AI venture proves successful?
Here are a few ideas from experts to make sure your business remains focused and successful when it comes to implementing AI in your organization.
Balance human interaction and chatbots
Chatbots are all the rage, but if you want your customer service interactions to remain authentic, keep human interaction at the epicenter or your customer service platform. According to Dan Kiely, the CEO of Voxpro, brands shouldn’t leave everything to a bot if they want customer satisfaction levels to increase.
Make AI investments more human-centric
According to Joshua Feast, CEO of Cogito Corp, AI technologies that are more human-centric will be more successful. AI investments that augment humans will enhance skills, be more widely accepted, and help produce measurable business outcomes.
Make AI deliver on the omnichannel promise
Measuring marketing across all platforms is a huge tasks—one that can only be accomplished with the help of AI, according to Dan Rosenberg, CSO of MediaMath. In 2018, make sure your AI investments measure marketing data across all customer touchpoints and across all channels. That way, you’ll get a more accurate and 360-degree view of your customer, and be able to make better business decisions.
See AI for What It Is
Peter Wallqvist, VP of Strategy at iManage, calls AI out for being seen in the past as a cure-all for everything. Perhaps, this outlook plays a part in Forrester’s 2018 grim predictions for AI. To avoid misaligned focus, be realistic about the scope of your AI investments and see it for what it is. Use AI to gather data, automate tasks, gather insights, and then use that data to make smarter business decisions in 2018.
It’s easy to get caught up in the hype of AI and forget to put in the hard work to make AI work for your organization. As we get deeper into 2018, take the time to rethink the scope of your AI investments in more practical terms.