What makes companies not implement AI?

No doubt, Artificial Intelligence is ruling the world like never before. AI has surely transformed the way business is looked at. Big market players like Google, Facebook, Amazon, Yahoo, IBM, etc. are making use of this technology whenever and wherever possible. But what is worth mentioning is that there are still many companies and organizations out there that are still a little skeptical when it comes to incorporating AI.

Just like every technology, Artificial Intelligence too has some hurdles that make companies think twice before investing in the same.

Data: Evidently, data forms the base of Artificial Intelligence. AI is worth everything provided the data that is to be dealt with is sufficient, both in terms of quality as well as quantity. Without data, it is just not possible for the algorithms to learn and make predictions. Better the quality of data, more accurate are the predictions. Companies like Amazon, Facebook, IBM, etc. have to deal with enormous data of high quality on a regular basis and thus incorporating Artificial Intelligence makes every possible sense. But, not all companies have data to the extent that there is a requirement for AI to be deployed. Insufficient data and/or bad quality data is one of the prime reasons why AI projects fail.

Investment: Needless to say, every company has a fixed budget. Also, the fact that the implementation of Artificial Intelligence does require resources in the form of time, money, etc., it makes one wonder whether investing in AI will yield the desired results or not. AI will not change the business overnight. For the best possible results, large volumes of data has to be processed. This ultimately means that the company must have funds to facilitate the storage of such huge data. A business that lacks a modern networking infrastructure will have difficulties while supporting AI technology. Hence, an investment in this area is also something that cannot be overlooked upon. Also, it is a well-known fact that without cloud-based technologies, most AI solutions cannot operate. Having said that, companies will have to deploy such technologies as well to proceed with AI.

Internal expertise: Though it is the machine intelligence that's been put to work but the base of it is human intelligence. Having people/employees with the right talent, skills and mind-set makes the entire idea of moving ahead with Artificial Intelligence smooth, without a doubt. Internal expertise be it in the form of data managers, software engineers, data scientists, data analysts, etc. play a pivotal role in building and training models. Without such expertise, AI is absolutely meaningless. And this is exactly where the problem lies. The number of people who are skilled to the extent that AI implementation isn't a challenge anymore is not very pleasing. Getting in the right people with the required talent is yet another hurdle faced by organizations.

Willingness to take the bold step: This has to be the most commonly found reasons as to why are companies not willing to go ahead with AI. Many companies do believe that Artificial Intelligence will benefit them in the long run, yet standing firm by the decision of implementing it is what they lack. There's something, best known to the business leaders that stops them from going ahead with the very idea of incorporating AI.

Yes, there are challenges as far as AI implementation is concerned. But, considering the benefits that AI can bring to the table, then there shouldn't be anything that could stop the organizations from taking the next big step!