Fri, Sep 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Why Most AI Projects Fail

Friday, October 06, 2017

By Ben Taylor, Chief Data Officer at ZIFF, Inc.

Everyone has AI on their 2017/2018 roadmap these days. Bottom-tier innovation verticals like HR, multi-level marketing, entertainment, fashion, medical, supply chain (anyone else we should throw under the bus?) are even starting to talk about it. Everyone wants to hire a data scientist. Fortune 1500 companies are throwing out multi-million dollar data leadership positions to lead their data teams to success. Despite the hype and excitement, the majority of companies that commit to tackling AI projects will fail. Even that $1M+ hire won't save you from failure.

Based on my own personal failures and companies I have interacted with here are some of the main reasons why your AI project failed or will fail. These have seemed to resonate well with others so I figured I would share.

(1) Science Project Sharks:

Many of the companies we consult with are surrounded by science project sharks. "Wouldn't it be cool if we could do !", "We want all user uploaded images to align with our brand using AI!", "This data set has value, let's extract it!". The question we ask to cut through the crap is:

"Which projects have the largest impact on your BHAGs/KPIs/revenue?"

Wow-factor won't feed your family, revenue will. You can't afford for your first AI project to be a failure, that will set you back behind your competition. It would be better for you to postpone jumping into AI than t......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. The incredible shrinking hedge fund, For hedge fund stars, being right in 2008 proved to be a curse[more]

    The incredible shrinking hedge fund From Bloomberg: You'd be forgiven for thinking the hedge fund industry might be starting to rebound. Industry assets are at a record $3.2 trillion this year, and a brand-new ?rm just brought in an unprecedented $8 billion. But the reality isn't so rosy.

  2. Investing: Fiat Chrysler attracts more investment from hedge fund manager[more]

    From Autonews: Chase Coleman's Tiger Global Management has invested more than $1 billion in Fiat Chrysler Automobiles after more than doubling its position in the automaker since the end of June. The U.S. fund becomes the fourth biggest investor in the Italian American company. Tiger Global inc

  3. SWF: Saudi Arabia's sovereign wealth fund raises $11bn loan with 15 banks[more]

    From Reuters: Saudi Arabia's sovereign wealth has raised an $11 billion loan from a total of 15 banks, the Maaal financial news website reported on Tuesday, citing unnamed sources. A source with direct knowledge of the matter told Reuters last month that the Public Investment Fund (PIF) will p

  4. Hedge fund billionaire spells out America's worst nightmare, Sir Michael Hintze: Response to global financial crisis elevated populism[more]

    Hedge fund billionaire spells out America's worst nightmare From SMH: Billionaire hedge fund manager Ray Dalio effectively spelled out what doomsday looks like for the US on live television. The founder of Bridgewater Associates predicted the US economy is about two years from a downtur

  5. Lehman's carcass has handed huge profits to distressed funds[more]

    From Bloomberg: It was a bold move: buy at Lehman Brothers's darkest hour. But a decade after Lehman's collapse, a handful of hedge funds that bought up the bank's debt for pennies on the dollar have made even more money than seemed possible. More than $124.6 billion has flowed to Lehman credi