The US Environmental Protection Agency CIO Carter Farmer warns against the overhyped expectations surrounding AI. Many organizations leap into AI without a clear purpose or proper data vetting, leading to disappointing outcomes. Farmer emphasizes that not all problems require AI solutions, and pursuing AI for the sake of buzzwords can hinder progress. He notes the poor investment returns in AI, with only 25% of AI initiatives yielding positive results. Effective problem-solving should involve thorough assessment rather than blindly implementing AI technologies.
"People hear AI and they think it can solve any problem," Farmer argued. "They see what it's done at other organizations and jump in without asking the right questions."
Farmer explained, "Many times the problem you're trying to solve doesn't need AI," adding that jumping to keep up with the latest buzzwords can ultimately slow growth down rather than accelerate it.
"If you don't ask those questions up front you can go down a road pretty far before you realize you need to back up, reverse and figure out where you should have gone down first," Farmer said.
Investment returns on AI have been found to be pretty poor of late, with just one in four AI bets are paying off according to a recent survey of 2,000 CEOs.
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