Why Only 10% of Companies Succeed With AI with Sam Ransbotham, Professor at Boston College
Mar 11, 2024
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Exploring the challenges companies face with AI implementation, emphasizing the need for innovation over simply adding AI. Discussing the philosophical aspects of AI consciousness and its impact on human capabilities. Highlighting the importance of oversight and regulation in the tech industry and the potential effects of AI on job roles. Delving into the limitations of humanoid AI design and the technological impact on education.
Companies face challenges in AI implementation leading to only 10% succeeding financially.
AI requires reimagining processes and strategic integration rather than simply applying it on top.
Deep dives
Success Rates of Companies with AI Implementation
Only 10% of companies successfully benefit from artificial intelligence implementations, showcasing the challenges faced by the remaining 90% in achieving significant financial gains.
Building Blocks for Successful AI Implementations
To be among the successful 10%, companies need to have essential foundations in place such as updated technology infrastructure, skilled personnel to operate AI tools, and a strategic approach towards AI integration.
Innovative AI Applications in Healthcare
AI's potential is highlighted through examples like using optical character recognition to extract data from faxed medical documents, revealing the need for reimagining processes rather than just applying AI on top of existing methods.
Changing Role of Education Due to Advancing Technologies
The evolution of technology is reshaping the education landscape, enabling customized learning experiences and adaptive tools like Duolingo for language learning, showcasing the potential for AI to revolutionize how individuals acquire new skills effectively.
Today we’re talking to Sam Ransbotham, Professor at Boston College. Sam shares with us the reason that the vast majority of companies are falling behind the AI curve, why most people just slap AI onto a problem instead of fixing it, and the ways in which technology can improve not only our business processes but also our quality of life.
All of this right here, right now, on the Modern CTO Podcast!
To learn more about Sam's podcast, "Me, Myself and AI," check it out here or wherever you get your podcasts.