Maximise ROI with AI: 2 Questions to Ask Before You Invest!

70% of AI projects are being shelved or delivering underwhelming results. What do the other 30% that succeed do differently? 

Before you initiate the next AI project here are 2 questions to ask…

1. Are we being strategic with our use of technology?
2. How will this activity create progress?

Let's dive into each point:

#1. Being Strategic with Technology

We see the same story repeat year after year: organisations invest millions of dollars into technology projects, which eventually get shelved.

I was called in to consult a financial services company - they spent $20 million on a data warehouse, only to scrap it after 3 years as they realised it doesn’t meet their new requirements.

Such projects start with great enthusiasm but eventually gather dust on a shelf.

In my book, The AI Factor - I answer a very important question:

How can we avoid this with your AI investments and ensure they contribute to your success?

Start with the why - not the what or how. 

Ask yourself:

• How are you strategic in using the technology?
• How does it align with your business goals?
• Why are you implementing this technology?

Purpose is what makes our technology powerful. 

Dashboards, algorithms, and features can dazzle us, but we shouldn’t lose sight of why we are doing this in the first place.

Technology + Strategy + End Result = Business Outcomes. 

That is the equation. 

It’s not about the technology but what we achieve with it.

#2. Will this activity help us make progress?

A few years back, before a boarding meeting, my client's CIO invited me to a review.

He was excited to share his progress on a company-wide Microsoft migration. 

As we sat down to review - I asked questions like, 

"What happens if we switch from one product flow to another?” “How will this adapt for our geographically expansion as different markets have different regulators?” “How will this adapt if the organisation changes priority and wants to bring costs down?

His excitement soon turned into confusion. He confessed that he didn’t even think about it. The team had focused on implementing the tool but forgot to consider all the business outcomes.

So, it’s important to connect your activities with the ultimate goal.

The key takeaways here are:

• All activity is not progress.
• Be strategic in using technology.
• Bottom-line impact is the only measure that matters. 

In the end, true tech success is about user impact, not about the fancy features. These perspectives will help us drive business results with AI.

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🚀 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗶𝗻𝗴: 𝗧𝗵𝗲 𝗔𝗜 𝗙𝗮𝗰𝘁𝗼𝗿 𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗹𝗮𝘀𝘀 𝘄𝗶𝘁𝗵 𝗔𝘀𝗵𝗮 𝗦𝗮𝘅𝗲𝗻𝗮

We'll deep-dive into the groundbreaking Power Quadrant™ framework to help you unleash the AI advantage in your business.

Here’s what we have in store for you:

✓ The Power Quadrant™ Framework

Identify and prioritize high-impact AI opportunities specific to your business stage and industry.

✓ AI Use-Case Analysis

How to identify and evaluate winning AI use-cases for your organization that will deliver the most value.

✓ Synergy b/w Business & Technology:

How to break the silos between business and technology teams to drive compounding synergies in your AI and other transformation initiatives.

In just 2.5 hours, you’ll walk away with a powerful AI strategy and the tools to implement it.

This masterclass is tailored for visionary leaders in Fortune 1000 and high-growth companies who see AI as critical for future success.

🗓️ Date: September 6th, 2024

Time: 12:00 - 2:30 PM EST

Location: Virtual

Investment: $297

Please click here to see all the details and register.

Only 30 seats are available, feel free to send me a direct message if you have any questions.