Enterprise AI 2.0

Five decades back when artificial intelligence first came into existence, people predicted that technology will be the future of human lives. In 2021, the saying remains unchanged. Because of the unstoppable evolution of artificial intelligence, technology remains at the forefront of everything, starting from business to government initiatives. But looking back at the practical implication of artificial intelligence in business, most organizations are lagging. Fortunately, experts suggest that whatever development in technology we have come across so far is just the first phase and now we are entering a new phase called Enterprise AI 2.0.

The business sector is always head over heels for technology. Starting from using chatbots to connect with consumers to predicting customer preferences, artificial intelligence is at the forefront of business developments. Every day, developers are coming up with new software or AI models to address consumers’ concerns. But despite the enormous number of applications that are being unfolded into the commercial market, the worldly implication of artificial intelligence in business is comparatively less to how it appears from outside. According to a report, over 90% of data science projects never make it to production and only 20% of data-driven insights achieve business outcomes. Besides, more than 50% of the companies that have started an enterprise AI strategy tends to fail at a certain point. However, according to experts, what we have seen so far is the first 25 years of artificial intelligence. With technological advancements taking over the business sector today, we are slowly entering into the second phase of digitization, Enterprise AI 2.0. The first phase of artificial intelligence in business is seen as a learning or trial time where business organizations experienced the rise of technology and its worldly impacts. As we are moving into Enterprise AI 2.0, let’s have a look at what we have done so far and where we are headed.

A Look Back at the First Phase of AI Adoption

When the term ‘artificial intelligence’ was coined and people started getting the taste of technology for the first time, they thought that achieving AI’s benefits would be simple. But when technology was implied in a real-world scenario, the perspective changed. In the mid-1990s, AI was still at a moderate development level with speculative testing, experimental interests, and explorations. Unfortunately, the circumstances didn’t cope well with technological improvements. When researchers sought out to try a new model, they always lacked data and needed other perspectives. But today, things have moved on a bit. We are trying to enforce artificial intelligence through disruptive trends such as data science, machine learning, deep learning, cloud computing, chatbots, and many others. Finally, researchers are reaping the result from the seeds they sowed years back.

Entering into Enteprise AI 2.0

After years of experiment, finally, artificial intelligence in business is going to streamline every routine operation. Artificial intelligence will do what traditional analysts did, including scoring or providing insights, but with 100x more speed than the native methods. 

Businesses will experience a spill of technology out of the IT department. For many years now, organizations have confined AI inside IT teams. Now, they realized that AI adoption must be done with a partnership between IT and the entire business in order to apply it in a way that provides real benefits. Taking it even further, the technology of the future will house organizations’ unique needs and address them. But despite AI’s growth, it is always important to maintain the human element. Companies shouldn’t forget that the rise of machines doesn’t mean the abandonment of workers. It is more like technology standing along with humans to improve business outcomes rather than to replace them.