Plan
Planning for AI is all about being smart and flexible. The AI market is changing fast, and the tools you choose today might not be the best ones tomorrow. Instead of chasing perfection or overcommitting, focus on the basics and build step by step. Make sure every decision adds real value before you dive in too deep. It’s about moving fast, but with a plan that keeps your options open.
Pathways
- Focus on What Matters First: Don’t waste time chasing the “perfect” solution. Start with the core tools and processes that deliver real results today—adjust as things evolve.
- Stay Flexible: AI products are still growing up. What works now might change in a few years. Pick solutions that can grow and change with your business.
- Invest Wisely: Don’t overspend on massive tech investments before you know they’re the right fit. Test, learn, and scale when you’re sure it makes sense.
Evidence
- Rapid Evolution of AI Technologies: A study analyzing the thematic evolution of AI research highlights the dynamic nature of the field, indicating that AI technologies are continually advancing and diversifying. [Source: Wiley]
- Significant Capital Expenditure by AI Hyperscalers: Data from S&P Global reveals that five major AI hyperscalers are projected to collectively invest over $1 trillion in capital expenditures between 2024 and 2027, underscoring the substantial and ongoing investments required in AI infrastructure. [Source: JP Morgan]
- Strategic AI Adoption in Investment Management: A survey by Mercer indicates that 91% of investment managers are either currently utilizing AI or planning to incorporate it into their investment strategies and asset class research, reflecting a strategic and phased approach to AI integration. [Source: Mercer]
Key Data Points
- Increased AI Budget Allocation: Research from EY shows that 88% of senior leaders now allocate 5% or more of their total budgets to AI, with 50% planning to dedicate 25% or more in the coming year, indicating a cautious yet increasing investment in AI initiatives. [Source: EY]
- Projected Growth of the AI Market: The global AI market, valued at approximately $454.12 billion in 2023, is expected to grow at an annual rate of 19%, potentially exceeding $2.5 trillion by 2032. [Source: AIPM]
Quotable Insights
- Capital One CEO: Richard Fairbank “Efficiency was never the objective function,It was one of the many benefits of a tech transformation.”[Source: CIODive]