Enterprises are projected to invest $307 billion in AI by 2025, but significant portions of these investments may fail. A staggering 42 percent of companies have abandoned many AI projects due to a failure to balance ambitious goals with achievable ones. Successful companies will leverage both revolutionary initiatives and routine successes to support their transformation journeys. Developing an 'innovation portfolio' is essential, allowing organizations to manage risks and optimize project interactions across various initiatives. This approach ensures a diverse pipeline for long-term success in AI innovation.
AI's transformative power emerges not from any single initiative but from a diverse portfolio of projects ranging from revolutionary to routine.
The organizations that thrive will pursue audacious bets that redefine their industry and mundane victories that provide the resources to fund the journey.
A carefully curated innovation portfolio allows organizations to manage risks while pursuing multiple paths to transformation, requiring a balance of diverse projects.
Long-term success in AI innovation hinges on maintaining a pipeline of projects that vary in size, scope, risk, and transformative power, similar to financial portfolios.
#ai-investment #innovation-portfolio #transformation-strategy #risk-management #organizational-success
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