Funding AI

Post
Written By AB

In a perfect world AI projects would pay for themselves within a few months and generate massive ROI within the year. Last time we checked, the world is imperfect.

We all agree that AI will change everything inside and outside the corporation. Process automation will be truly automated. Entire sectors of the economy will be 90%+ automated including law, accounting, graphic arts, and transportation. Just as airplanes still need pilots, these professions will still need experts, but like airplanes, 90+ of the work will be done by code.

The problem is that a lot of boring and expensive work needs to be done between what we have today and 90% automation. The rush of excitement and easy money for AI projects has dissipated. We are back to reality.

IT leaders need to figure out how to pay for improving data quality, data platforms, data management tools, AI services, and experts to stitch it all together in a time in a climate of flat or declining budgets. 

The single best source of incremental resources is to get rid of waste. All but the leanest IT departments have some. The good news is that waste hunting meets all the criteria we wish we had for AI. The projects can pay for themselves within months and generate high ROI within a year. Waste reduction also is a positive flywheel, the more you do it the more you find. When it becomes a mature process, additional wastestops accreting,making sure that RUN spend doesn’t crowd out GROW and CHANGE, as is so often has in the past.

Good news is that if IT leads the charge on waste, it gets to keep the savings and invest it in new projects like AI. However, if the IT waste reduction initiatives come from outside of IT, the savings are often clawed out of future budgets and applied elsewhere. 

Getting visibility and cleaning out waste is a low risk, high value way for IT leaders to increase control of their destinies while delivering high value solutions to the business. We would love to hear what’s holding you back. Let us know at feedback@perceptus.io.

 

More to Discover

Featured
Funding AI
Post
Funding AI
Post

In a perfect world AI projects would pay for themselves within a few months and generate massive ROI within the year. Last time we checked, the world is imperfect.

Post
Increase your firm’s value by increasing IT value
Post
Increase your firm’s value by increasing IT value
Post

What if we told you there is a magic pot of money and all you had to do is hire us? That would be great, for you and us. Sorry, there’s no magic and no pot. However, there are methods to consistently optimize specific areas of spend that add up to real money relatively quickly. The trick is not to only find the money, it's to deploy it for maximum returns.

Post
Technology Economics
Post
Technology Economics
Post

Technology Economics has been around since there’s been technology, but rather than using it as a governing framework, it’s been buried under budgeting, project committees, purchasing, review boards, transfer pricing, and the like. 

Post
AB
Next

Increase your firm’s value by increasing IT value