There has been no end to talk of embracing artificial intelligence — or any other new technology for that matter — before one’s competitors take hold of it. The consequences, it is always said, are dire, with slow-adopting companies becoming dinosaurs ready to suffer the effects of an asteroid hit. But business leaders are apparently not buying into this notion — governance, security, and corporate culture need to be factored into the equation before AI becomes a significant part of operations and decision-making. If anything, nearly all business leaders (98%) say they are “willing to forgo being the first to use AI” if that ensures they deliver it safely and securely, the survey of 205 executives, published in MIT Technology Review and underwritten by Boomi, shows. AI ambitions are substantial, but few have scaled beyond pilots, the survey showed. Fully 95% of companies surveyed are already using AI and 99% expect to in the future. But few organizations have graduated beyond pilot projects, the survey finds. The great majority, 76%, have only deployed AI in one to three use cases. Welcome to the trailing edge of AI. What will bring organizations to get AI past the finish line — which is the point in which it is in full production, and delivering the returns promised? Industry leaders agree that it’s time to look past the hype and hopes of AI and focus on solid results. “It’s understandable to be skeptical of headlines claiming that every new tech breakthrough will change everything,” said Raj Sharma, global managing partner for growth and innovation at EY. Sharma, for one, advises caution, but is optimistic about what AI can ultimately deliver. “Generative AI and AI-driven large language models appear poised to fulfill this promise. With last year being considered the year of AI hype, currently, we’re witnessing 2024 as the year of AI reality. Businesses are exploring large-scale transformation while regulators focus on implementing new AI codes and regulations.”

Full report : Getting AI Past The Finish Line, Responsibly And Ethically.