Unlocking AI's true potential in the real business world
A global perspective: uncovering universal challenges
The study, involving 2,525 decision-makers from China, Germany, India, the UK, and the US, alongside insights from 16 AI implementation experts, uncovers a universal struggle in harnessing AI's full potential. Despite varying economic and cultural landscapes, businesses worldwide grapple with similar technological, organizational, and cultural hurdles in implementing AI.
From newcomers to experienced: an evolving AI landscape
A pivotal aspect of the research is the differentiation between AI Newcomers – firms at the start of their AI journey – and AI Experienced companies. The findings reveal that as companies deepen their engagement with AI, they encounter increasingly complex challenges. This evolution underscores the need for a dynamic approach to AI implementation, adapting strategies as firms advance in their AI capabilities.
A diagnostic framework: guiding executives through the AI maze
The study introduces a diagnostic framework designed to assist executives in navigating these intricate challenges. This tool is essential for balancing the complexities of technological adoption, organizational change, and building a network of partners and data sources. The framework aims to streamline the journey of creating value through AI, guiding businesses towards effective and sustainable AI integration.
Beyond implementation: a continuous learning curve
The research emphasizes that AI implementation is not a one-time task but a continuous journey of adaptation and learning. As AI becomes an integral part of business processes, the challenges and solutions evolve, demanding a commitment to ongoing learning and flexibility.
The future of AI in business: a collective endeavor
This comprehensive study presents a new understanding of AI implementation, extending beyond the confines of tech giants. It highlights the importance of practical, adaptable strategies for integrating AI into the wider business fabric. As we step into a new era of technological innovation, the study underscores the collective endeavor of harnessing AI's potential across various sectors and geographies.
Researchers and their affiliations:
- Rebecka C. Ångström: Stockholm School of Economics, Stockholm, Sweden; Ericsson Research, Stockholm, Sweden
- Michael Björn: Ericsson Research, Lund, Sweden
- Linus Dahlander: ESMT Berlin, Berlin, Germany
- Magnus Mähring: Stockholm School of Economics, Stockholm, Sweden
- Martin W. Wallin: Chalmers University of Technology, Gothenburg, Sweden; ETH Zurich, Zurich, Switzerland