Gary Drenik is a seasoned writer for Forbes, focusing on innovation in both large enterprises and small businesses through AI applications for consumer data. Since 2012, he has provided insights into innovative privacy-compliant predictive analytics and targeted marketing solutions.
Artificial intelligence is hailed as the future of business transformation, but in many organizations, it has become an expensive buzzword, benefiting consultants more than the businesses paying their fees. The problem isn’t AI itself—it’s the overemphasis on flashy strategies and theoretical possibilities while ignoring the bedrock of any successful AI initiative:There’s a long-standing critique of consultants: they ask for your watch to tell you the time.
that can guide strategic decisions. These advanced applications, which analyze trends, forecast outcomes, and provide actionable intelligence, have the potential to transform how the C-suite operates. Yet, most organizations fail to prioritize these initiatives. This missed opportunity is particularly significant for the C-suite, where predictive analytics could revolutionize decision-making. By using AI to forecast revenue, anticipate market disruptions, and analyze competitive landscapes, executives could make more informed strategic choices. Unfortunately, many firms remain stuck in the weeds of operational AI and fail to explore these broader possibilities.
As Harvard Business Review highlights, firms often gravitate toward operational AI because it is easier to implement and demonstrates quick wins. However, this approach leaves untapped opportunities for AI to drive broader, long-term value by improving revenue forecasting, market strategy, and competitive analysis., revenue forecasting predictive models incorporating survey-based consumer insights outperform traditional time-series models in terms of accuracy. Dr.
By understanding the critical role of data and taking a disciplined approach, businesses can avoid becoming just another statistic in the AI failure rate. It’s time to stop paying for people to “tell you the time” and start building AI initiatives that actually work.Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.
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