Publications
Publications
- November–December 2023
- Harvard Business Review
Keep Your AI Projects on Track
By: Iavor Bojinov
Abstract
AI—and especially its newest star, generative AI—is today a central theme in corporate boardrooms, leadership discussions, and casual exchanges among employees eager to supercharge their productivity. Sadly, beneath the aspirational headlines and tantalizing potential lies a sobering reality: Most AI projects fail. Some estimates place the failure rate as high as 80%—almost double the rate of corporate IT project failures from a decade ago. Approaches exist, however, to increase the odds of success. Companies can greatly reduce their risk of failure by carefully navigating five critical steps that every AI project traverses on its way to becoming a product: selection, development, evaluation, adoption, and management.
Keywords
Generative Models; AI and Machine Learning; Success; Failure; Product Development; Technology Adoption
Citation
Bojinov, Iavor. "Keep Your AI Projects on Track." Harvard Business Review 101, no. 6 (November–December 2023): 53–59.