The reason for such high estimates is largely because many enterprises struggle to transition from pilot projects to full-scale implementation and value realisation. “At least 30% of generative AI (GenAI) projects will be abandoned after proof of concept (POC) by the end of 2025, due to poor data quality, inadequate risk controls, escalating costs or unclear business value," according to Gartner, Inc.
Every single conversation at recent industry events in Asia – on stage or off it – either starts with or eventually meanders back to Artificial Intelligence (AI). It is clear that the Asia Pacific region is part of the headlong rush to embrace AI.
But we are starting to hear (and see) doubts about AI’s success beyond the hype. A recent RAND report noted that some estimates suggest 80% of AI projects are predicted to fail, far eclipsing the failure rate of IT projects that do not involve AI.
