It's been over two decades since AI solutions were first introduced to businesses. One can argue that there hasn't been much progress in terms of profitability and efficiency relative to what was expected.Recent data support AI skeptics. Nearly 90% of data science projects fail to reach production. Only 20% of the analytics insights by 2022 will result in business results. Even companies with an enterprise-wide AI strategy are experiencing failure rates up to 50%.The past 25 years were only the beginning of the evolution enterprise AI, or Enterprise AI 1.0. This is where most businesses are today. Companies at the forefront of AI innovation are now moving to the next generation. This will be the decade of big data analytics, automation, and automation Enterprise AI 2.0.It is not just about the difference between these two generations in enterprise AI. Executives from all business sectors, including media and finance and healthcare retail, have the opportunity to learn from past failures and create concrete expectations for the future. This evolution from 1.0-2.0 is an opportunity to adapt and learn from past mistakes and to justify the increasing investment in AI across industries.When business leaders look back on the 2020s two decades from now they will see that the first companies to achieve Enterprise AI 2.0 were the big winners in the market. They had differentiated their services and seized market share. This position has allowed them to continue innovation.The digital transformations of tomorrow can be viewed as an evolution of Enterprise AI 1.0 to 2.0. This conceptual model is useful for business leaders who are trying to develop strategies to compete in this age of automation.Enterprise AI 1.0 (the status-quo)AI began in the mid-1990s and was marked by experimental interest, speculative testing, and exploration. These activities were almost entirely performed by data scientists. In a recent report Gartner stated that these activities were alchemy performed by wizards whose skills will not scale within the organization.
