Whether we like it or not, there is incredible pressure on businesses to adopt AI. That pressure is only increasing as AI spending is expected to grow by nearly 30% over the next four years. Yet, questions remain on what and how much AI can actually do. As we head into budgeting season, this pressure leaves IT departments in every industry scratching their heads, trying to figure out how much they allocate to AI pilots. Spend too little, and the competition could develop an insurmountable advantage – spend too much, and you may find out that there isn’t enough ROI.
The reality is – AI needs a plan. With the right strategy, you can kick-start your projects by investing only a fraction of your budget. Well-executed AI initiatives have the potential to not only pay for themselves but also generate significant returns. Laying out a clear roadmap for adoption will put you ahead of the pack and position you as a leader in the AI game.
Managing Director of Intelligent Automation, AI & Digital Services at alliant.
Even 1% of your budget can be done well
Let’s get this out of the way – spending more on AI doesn’t make you a leader in AI. Wedbush published a report that showed 1% of total revenue (approximately 8-10% of IT budgets) at major tech firms would be dedicated to AI. Meanwhile, a poll of CIOs revealed that 61% find it extremely challenging to prove ROI on their tech investments, with 42% not expecting positive ROI from AI projects within the next year.
Think about that for a moment – how much technology debt your IT department is already in because of projects showing no return or even negative returns. Now, you face…
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