Welcome to AI Strategy Fundamentals with Bjorn Austraat, who brings over 25 years of experience in applying AI at an enterprise scale. Despite the executive attention, budgets, and buzz surrounding AI, failure rates for AI projects remain high, ranging from 83% to 92%. To successfully implement AI solutions that deliver results for customers and companies, it is crucial to focus on all components of the technology, not just one piece.

The Five Pillars of Enterprise AI Success

• Platform
  • Enables collaboration across lines of business and functions
  • Allows for data discovery, engineering, model development, and operationalization
• Solution Portfolio
  • Ensures a well-balanced blend of incremental and disruptive innovation
  • Incorporates partner innovation as appropriate
  • Places the right bets that align with the organization's risk envelope
• Communication
  • Efficient and effective communication critical in fast-moving AI fields
  • Crafting well-designed communication for different stakeholder groups
  • Creating effective story arcs for message reception and internalization
• Talent
  • Building and retaining teams in a competitive AI talent market
  • Strategies for effectively managing AI talent and other skilled talent
• Governance
  • Executing technically excellent, ethical, transparent, and explainable AI
  • Establishing proper governance frameworks for responsible AI

To successfully implement AI at an enterprise scale, organizations must focus on all five pillars: platform, solution portfolio, communication, talent, and governance. By addressing each of these areas, companies can overcome high failure rates and deliver AI solutions that provide value to both customers and the organization.