This post was originally published on Finextra (Security)
In a recent LinkedIn poll, the question was simple: “Let’s be honest. Why aren’t you hiring external AI experts?” The results were telling, and perhaps a little disheartening for those of us in the AI space. While a quarter of respondents admitted they do hire AI experts, the majority offered concerning reasons for their hesitation. The poll revealed that 33% “Don’t believe the AI hype,” 20% cited “Internal chaos. No one agrees,” and another 20% claimed, “We can do it ourselves.”
This reluctance to embrace external AI expertise is a crucial issue, especially as AI continues to transform industries at breakneck speed. While some skepticism is healthy, the reasons behind this hesitation often stem from a lack of understanding, unrealistic expectations, and a misunderstanding of the complexities involved in successful AI implementation.
The Allure and the Reality: Why AI Projects Fail
As Oliver King-Smith, founder and CEO of smartR AI, has pointed out in his insightful articles, the path to successful AI implementation is fraught with challenges. MIT research shows that a staggering 95% of AI projects at large US corporations have failed to deliver meaningful value. While this number is alarming, the good news is that when companies bring in
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