Companies struggle with the slow, unpredictable nature of AI projects
A new survey by Dotscience sheds light on the current state of artificial intelligence (AI) adoption by businesses. The findings point to some promising and some discouraging trends. On the bright side, 63.2% of firms currently invest between $500,000 and $10 million in AI projects and the overwhelming majority (88%) of firms with AI in production say that it has made them more competitive.
But at the same time, 60.6% of companies indicate that their AI efforts are being hampered by a number of operational challenges, and it takes 64.4% of firms between 7 to 18 months to move from an idea for an AI project to production.