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Abstract

Despite advances in artificial intelligence (AI) and machine learning (ML), a shockingly high percentage of such projects fail. This background note identifies issues that occur at the ideation, planning, and evaluation stages, emphasizing the need for a balanced approach that combines technical AI/ML capabilities with rigorous decision analysis. It includes an Analytics and AI Opportunity Worksheet that offers non-technical managers a step-by-step guide to thinking through opportunities for analytics and AI in their organization. The note and the worksheet are complements to the Analytics and Strategy Vignettes and can be used as exercises in class to illustrate the concepts discussed.

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Abstract

Despite advances in artificial intelligence (AI) and machine learning (ML), a shockingly high percentage of such projects fail. This background note identifies issues that occur at the ideation, planning, and evaluation stages, emphasizing the need for a balanced approach that combines technical AI/ML capabilities with rigorous decision analysis. It includes an Analytics and AI Opportunity Worksheet that offers non-technical managers a step-by-step guide to thinking through opportunities for analytics and AI in their organization. The note and the worksheet are complements to the Analytics and Strategy Vignettes and can be used as exercises in class to illustrate the concepts discussed.

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