One in four companies fail half of their AI projects.

Half of the artificial intelligence (AI) projects in no less than a quarter of the companies fail. This is the result of research conducted by IDC among 2,473 organisations that use AI solutions for their activities, according to Venturebeat.

Of the organizations that already use AI, only 25 percent have an enterprise-wide AI strategy in place. This is despite the fact that many of these projects are failing. The main reasons for this are a lack of skills and unrealistic expectations, according to the companies themselves.

However, several organisations see AI as something important. Half of them, for example, state that artificial intelligence is a priority and two-thirds emphasize an AI First culture. Main reasons to implement artificial intelligence are to improve productivity, improve business agility and increase customer satisfaction through automation.

More than 60 percent of companies state that changes have been made to their business model, which are associated with the adoption of artificial intelligence. Almost half of them also state that they have established a formal framework to better reflect on ethical use, possible risks of prejudice and trust problems.

AI remains booming

The fact that artificial intelligence is popular among companies is also shown by Gartner’s analyses. In January, for example, the research bureau stated that the use of AI in companies has grown by 270 percent over the past four years. In 2018 alone, that use tripled. In total, 37% of companies now use artificial intelligence in one way or another.

Gartner further predicts that approximately 80 percent of project management office tasks will be superseded by artificial intelligence by 2030. This includes tasks such as collecting, tracking and reporting data.

It is expected that by 2030 managers will be able to ask systems which projects are associated with specific companies. It is also possible to get status updates and to record parts of meetings.