Noelle Russell says $422 billion in annual revenue is wasted on AI, and over 80% of AI projects fail not because they aren't built, but because they're built poorly. One-third of executives admit they have no AI governance in place.
Chapters
Here's some statistics in case you are not aware of how much money is wasted today on AI that people don't know what they're doing. Uh, for $422 billion in wasted annual revenue or time, um, globally. This is because, remember, 95%, uh, as of, I think right now we're seeing a little bit of a correction, um, in companies because they're getting educated and they're actually building responsibly. But We're over 80% for sure, um, of AI projects are failing to actually deliver any value in companies at all. This is the wasted opportunity, is that they'reโ it's not that they're not building it, they're just not building it well. In my keynote at the end, I have a, a progression that I take them through, and one of them is, you know, today's the day to build an AI strategy. But then I stop and I tell them, you all have an AI strategy right now, every single one of you. And this is true for you all as well. Like, everyone has an AI strategy. The only difference is, is some of yours are awful. Like they're awful, bad strategies, like horrible, and they will not serve you well. And so it validates like you might be doing something, but the idea is it good? Because that's the only thing that really matters when it comes to building safely. And this is what that number speaks to. 1 in 3 executives report that they have zero governance in place. That's 33%. I think it's a little higher because most people will say they do and they don't.