Wanted: Data

AI Project Teams Are at the Mercy of Their Information Quality

 

Good data is the lifeblood of a successful artificial intelligence (AI) project. But collecting and parsing quality data can be time-consuming and costly. That leaves many AI teams facing a frustrating dearth of data.

GLOBAL APPETITE

img
img

77%

of respondents in China expect AI to transform their business by 2021—the highest level globally

US$35.8 billion

Amount expected to be spent globally on AI systems by the end of 2019. By 2022, that total is expected to more than double, to US$79.2 billion.

INFORMATION DEFICIT

img

of organizations pursuing AI projects have run into problems with data quality, data labeling required to train AI initiatives and building model confidence.

img

AI professionals and data scientists report that training AI with existing data is more difficult than expected.

img

of executives say their companies have a clear strategy in place for sourcing the data that drives AI initiatives.

img

of executives say less than one-tenth of their company's digital budget goes toward AI.

Sources: Future in the Balance?: How Countries Are Pursuing an AI Advantage, Deloitte, 2019; Worldwide Semiannual Artificial Intelligence Systems Spending Guide, International Data Corp., 2019; What Data Scientists Tell Us About AI Model Training Today, Alegion, 2019; McKinsey Global Survey, 2018

Advertisement

Advertisement

Related Content

  • Project Management Journal

    Using Principal–Steward Contracting and Scenario Planning to Manage Megaprojects member content locked

    By Turner, J. Rodney Megaprojects are complex, but people use constructs inappropriate in complex situations for their management, particularly contractual arrangements.

  • Project Management Journal

    A Dynamic Capabilities Model of Innovation in Large Interfirm Projects member content locked

    By Steen, John | Ford, Jerad A. | Verreynne, Martie-Louise The time-bounded nature of large interfirm projects and technical interdependencies constrain innovation.

  • PM Network

    Salto cuántico Nuevas iniciativas podrían acelerar un logro revolucionario de la computación member content open

    Cuando Google anunció en agosto que una de sus computadoras cuánticas había logrado simular una reacción química, se convirtió en el último avance de la tecnología. La promesa de Quantum: aprovechar…

  • PM Network

    Quantum Leap member content open

    By Ali, Ambreen | Hendershot, Steve | Hermans, Amanda | Thomas, Jen | Wilkinson, Amy When Google announced in August that one of its quantum computers had succeeded in simulating a chemical reaction, it became the latest breakthrough for the technology. Quantum’s promise: harnessing…

  • Playbook for Project Management in Data Science and Artificial Intelligence Projects member content open

    By PMI South Asia | NASSCOM The playbook presents a framework with recommendations on resources that organizations can use to build capability for DS/AI projects and a best practices toolkit to apply to different project stages.

Advertisement