Data is the new driver of our information economy, but right now even big enterprises are off-roading it. Fifty-nine percent of executives say Big Data at their company would be improved by the use of AI, and yet 85% of big data or AI projects fail. Instead of AI strategies that enhance their business, companies are too often left with AI projects that lead them down a dead-end road. It’s little wonder that companies have scar tissue when it comes to AI and AI-powered solutions like chatbots or IVAs. Few vendors in the market are providing the directional guidance enterprises need in order to effectively begin their AI engagements.
If we’re going to steer the industry back to a profitable, effective path, we need deployments that are in direct harmony with primary business goals and user needs. We need AI implementations that solve real problems. Unfortunately, this is an increasing rarity in the AI industry. Most vendors have services teams that are made up of classically trained “business analysts” and “customer success” experts who are detached from the technology and so provide basic training and support. Instead of diagnosing their root need for AI with any kind of nuance, they take customers’ hunger for innovation as an invitation to sell them the most expensive model on the block.
At Verint Next IT, we know that not every company has the same need. For this reason, we don’t offer AI as if it is a business accessory. Not every AI deployment should look the same, and no AI strategy should exist in a silo. Data can only drive results if there is a map to execute against, and AI can only be transformative if it’s purposefully designed. Otherwise, deployments quickly stall, and companies can be left with projects that cost a lot but are worth little.
The current problem in the industry lies in believing a human alone should recommend the tasks that a machine accomplishes, or that a machine should make all the decisions. Humans and machines are vital partners in AI implementations, and they must work together if we’re going to achieve a true data-driven strategy. After all, human-machine solutions need human-machine planning. If your AI strategy is based purely on human analysis, it’s bound to have blind spots and biases that have the potential to ultimately sink the project. Companies need to know where to point the powerhouse of AI.
Verint Next IT is the only AI vendor to offer AI Blueprint, a conversation analysis system that guides strategy and deployment. To put it simply, we use AI to identify the best opportunities to deploy and accelerate AI. It’s a net-new approach to deployments and one that makes a lot of sense, knowing what we know about the industry. When we consider that only four percent of companies make good use of data analytics, we know that the standard way companies have been deploying AI — humans in a boardroom making a decision — is the not the solution.
At Verint Next IT, we advocate for data-driven decisions from the very beginning. You wouldn’t start a race on a half-empty tank of gas. Similarly, you shouldn’t wait to implement data-driven decision making until halfway through an engagement. Offering a conversation analysis system just that can guide strategy and deployment, just makes sense. And, we believe it’s a system that will become the norm for AI vendors. After all, AI vendors should consider it their primary responsibility to de-risk AI investments — and that means offering a smart, customized approach from the outset.