The biggest opportunities in AI will go to the first movers. Only the suckers are spending big money now—best to wait to see what works for others. The tech is changing so fast that what you buy today will be outdated next year. Stick with legacy systems for another year and you might not be around come 2025.
When it comes to what, where, and why to spend dollars on AI, the messages and directives are dizzying. It’s no wonder CEOs and CFOs are caught between FOMO and FOFU (fear of failing utterly). After all, there’s no question the opportunities are huge. McKinsey & Company research found that AI stands to add up to $4.4 trillion to the global economy annually. But in the early days of a technological breakthrough, it’s easy to spend a lot of money in the wrong places.
