A minority of businesses have won big with AI. What are they doing right?

A recent study by Cisco has explored the practices of businesses that have successfully leveraged AI to gain a competitive edge. The study identified a small group of "Pacesetters" – organizations that have reaped significant benefits from AI adoption. The key findings suggest that these successful AI implementers share several common traits. They prioritize AI investments, align their AI initiatives with clear business objectives, and adopt a comprehensive approach to AI implementation. Moreover, Pacesetters actively foster a culture of innovation and collaboration, enabling cross-functional teams to drive AI-powered transformations. In contrast, the majority of businesses have struggled to realize the full potential of AI, often hampered by a lack of strategic vision, technical expertise, and organizational agility. The study highlights the importance of a holistic, strategic approach to AI adoption, emphasizing the need for strong leadership, talent development, and a data-driven mindset to unlock the transformative power of this emerging technology.