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80% of enterprise AI projects fail – The problem is not the AI

By Shrish Anand Lal, Executive Director & Chief Business Officer, New Street, the company behind MiFiX.ai

The numbers should alarm every enterprise leader reading this. According to a widely cited global study of over 2,400 enterprise AI initiatives, 80% of AI projects fail to deliver their intended business value. Of these, a third are abandoned before reaching production, another 28% reach deployment but miss their targets, and 18% never recoup their costs. The average sunk cost per abandoned initiative in a large enterprise is $7.2 million.

These are not the statistics of a technology that does not work. They are the statistics of a technology that enterprises do not know how to operationalise.

India is not immune. Industry research on AI adoption in India shows that fewer than 15% of Indian enterprises have aligned their AI strategy with their broader corporate strategy. 67% allocate less than 10% of their IT...

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