🔥Overbudget and time AI projects? Don't even try product-centric and agile!

“Gartner predicts that by 2027, 90% of AI initiatives with dedicated product manager roles, a product-centric mindset and an agile approach will outperform and demonstrate greater business value than those that do not.”

🚩The product-centric mindset and an agile works? Most definitely not.

Well, this is just because the bar is too low, not because product-centric and #agile are a good fit! Today, 80% of AI projects fail. Anything will work if you don't try to burn money by applying #GenAI and #LLMs to everything!

❌ A product-centric and agile approach to AI is backward UNLESS it is a Line of Business (LOB) application that uses somewhat AI functionality for a very specific product feature.

Let's not forget that we've all seen and experienced the failure of #ProductCentric and #agile in solving day-to-day challenges of business operations because of rapid changes and uncertainty in business needs to deal with in operation – the catch game of software development and business. The challenge is rooted in the very nature of business operation in enterprise organizations in #insurance, #banking #financialservices, #health #government.

✨The best approach to getting AI to work in an enterprise organization is to ensure that it is aligned with business operations.

How?

💡Using the decision-centric approach will enable organizations to break down the problem into modular pieces of the work that touch business operations.

These pieces and decision-making scenarios happen hundreds of thousands of times a day.

Use the Decision-Centric Approach® to 👇
* Explicitly model business decisions
* Decompose them in the smaller, more easy-to-understand decision units
* Apply the right #AI technique for each individual piece
* Orchestrate data, processes and, system, and services around the automated decision module

💣Throwing a product-centric and agile approach to decision automation for business operations, particularly in a regulated environment, will lead to disappointment for both the business and software development teams because of the pace of business operations and the uncertainty they deal with.

Posted here.

Published October 8th, 2024 at 07:30 am