Despite the rush to adopt AI, 70% of projects fail. Here is a proven method, recommended to over 30 Heads of Product and CEOs, to select impactful AI initiatives:

1. Find a Strong AI Use Case

Identify pain points where AI can drive impact:

- High ticket volume in customer service.

- Friction in your conversion funnel.

- Complex products with extensive FAQs.

- Large customer bases with vast data.

- Teams handling time-consuming tasks.

- Delays in serving customers due to manual processes.

2. Ensure a Positive ROI

AI is a tool to boost profitability. Ask yourself:

- Does the feature reduce costs?

- Can it increase revenue?

- Will it enhance engagement and retention?

- Does it unlock new markets or segments?

3. Drive Adoption for Success

A common reason for failure is poor user adoption:

- Does the feature solve a real user problem?

- Is it easily accessible and intuitive within your product?

4. Validate Project Feasibility

AI success hinges on technological fit:

- What error rate is acceptable for this use case?

- Which technology ensures the desired accuracy?

5. Manage Risks Effectively

Evaluate potential risks and mitigate them:

- Reputational Risks : Impact on brand perception.

- Ethical Biases : Ensure fairness and inclusivity.

- Data Integrity : Maintain high-quality data.

- Legal Compliance : Meet regulatory standards.

- Privacy and Security : Protect sensitive data.

- User Adoption Risks : Train and support end-users.

Create an action plan addressing impact and probability for each risk.

Bonus Insight : For your first AI project, choose one that costs less than it will generate in value within the first year.

This framework, paired with expert integration, ensures your AI projects align with business goals and deliver measurable outcomes. Ready to turn your AI ideas into reality? Contact us to get started.