Most AI fails
The tech industry is falling over itself in the rush to get AI into everything, and not always successfully. About 80 percent of AI projects fail, according to non-profit research foundation RAND. This is twice the rate of non-tech start-ups, and a third higher than the already disappointing tech start-up rate. There are five root causes, which aren’t unique to AI, including misunderstanding the problem, or tackling one that can’t be overcome by AI. Entrepreneurs don’t always understand what AI can do. Engineers also get bewitched by new tech, rather than concentrating on a practical application. The rush to AI has all the hallmarks of other such tech movements, that leave a trail of failed ventures.