Artificial intelligence (AI) is often touted as a solution to modern business challenges, but experts warn that AI's success depends more on its strategic use than on the number of tools available.
Enakilehi Ejiowoke Truthful, an AI researcher at RealSearch and Partners, stressed that having an array of advanced AI tools does not guarantee success.
“Many businesses believe that deploying a multitude of advanced AI tools will guarantee success, but experience shows that this is not the case,” said Ejovwoke Truthful.
“The key is to clearly identify the problem to be solved and then select the right AI tool for the task.”
According to various sources, including Forbes Advisor Survey, Analytics Insight, Gartner, O'Reilly, IBM, Juniper Research, and Gov.UK, over 80% of businesses have already implemented AI technology in some form.
However, the plethora of AI tools available can be overwhelming, and not all tools are necessary for every business need. In an environment where AI is often viewed as the inevitable future of business, it's important to realize this.
Despite the power of AI, human intelligence and creativity remain essential. AI tools, no matter how advanced, are still products of human ingenuity and require strategic application to be truly effective.
Ejovwoke Truthful noted that the power of AI is best harnessed through strategic thinking and careful selection tailored to specific business problems. Leveraging AI to complement human expertise, rather than relying solely on technology, is essential to success.
“The appeal of AI is undeniable. Artificial intelligence technology can increase productivity by up to 1.5 times across industries. However, much of this projected growth will depend on how strategically AI is used,” added Ejovwoke Truthful.
He warned against outsourcing critical thinking and AI strategy to AI technologies, because AI models tasked with developing strategies often prioritize novelty over effectiveness. AI excels at analysis and execution, but currently lacks the strategic foresight and problem-solving capabilities of the human mind.
