In his first contributed article since joining the Fast Company Executive Board, John Castleman, CEO of Bridgenext, explores how companies should think about implementing Artificial Intelligence (AI).
In Adopting a new AI solution? Here’s how to realize a return on your investment, John warns of the dangers of jumping into AI without a thoughtful approach:
“Organizations across industries are rushing to invest in AI tools that claim to automate and optimize business activities from email copywriting to enterprise data governance — and cut costs to boot. But how will companies look back on these initial AI investments in 5 years? In 10? If this hype cycle is anything like the ones that came before it, much of today’s hurried AI spending will never show significant ROI.”
He then shares his thoughts on the key steps companies can take to ensure they don’t fall into the pitfalls of investing in new technology too fast while maximizing the ROI from their digital investments.