AI projects often fail. In fact, 85% or more of then do not yield the hoped-for results. Why is the failure rate so high, and how can the pitfalls that lead to failure be avoided?
The first problem that afflicts these projects is that the unique business challenges being addressed are not translated properly into data science problems. Many AI companies don’t bother to do the research required to deeply and fully understand a unique business’ most costly issues. Skipping this crucial initial step sets the project up for failure, no matter how much work is put into the complex solution later on.
The second most common problem is the presence of unstructured data that isn’t prepared for analytics. There’s a reason why CrowdANALYTIX considers data structuring the key first step towards AI implementation: machine learning solutions can’t accurately interpret unstructured data. Most companies will begin their AI journeys with large amounts of siloed, unstructured, uninterpretable data in many different formats. Thoroughly structuring it is crucial to the long-term success of any AI they want to apply.
The third and most difficult problem to eliminate is the presence of biases in the development and implementation processes. If a company is working with, say, five data scientists, those scientists will select the solutions they think will succeed in solving the enterprise’s given issues. However, the small number of data scientists involved almost guarantees the presence of biases in their selections, which lowers the possibility of success.
CrowdANALYTIX solves all three of these common causes of failure.
- We dive deep into your unique business to completely understand its challenges.
- We have an entire solution for structuring your company’s data: DataX. We don’t move on to any other AI solutions until your data is completely prepared for them.
- We give you access to more than 25,000 data scientists from around the world, effectively eliminating biases and drastically raising your chances of finding the right AI solutions for your business’ unique needs.
CrowdANALYTIX avoids failure points and makes AI work for you.