Applied Artificial Intelligence: An Introduction For Business Leaders

by Mariya Yao

Portfolio Approach Consider taking a portfolio or a venture capitalist approach to evaluating returns on AI projects.(76) View these early investments as research and development (R&D) ventures and assume that lots of failures will accompany each success. Many of the projects with the biggest ROI also take the longest to mature, require the most investment, and involve the most risk. Therefore, select a variety of projects based on their respective investment requirements, expected time to results, and likelihood of success. Schedule the experiments across multiple quarters and intersperse sure wins with riskier projects. If you’re restricted to testing one project at a time, prioritize likely wins in order to gain credibility and flexibility for future projects.