AI has the potential to benefit both your business and your staff. According to the Forbes CIO Newsletter, some companies may need to slow down their adoption of AI despite the widespread enthusiasm for implementing enterprise AI across various functions. A recent study by Lucidworks, a company specializing in AI search and product discovery, revealed that 65% of companies lack a strong foundation for integrating more AI into their platforms. Lucidworks’ CEO, Mike Sinoway, compared agentic AI to a car, with generative AI as the engine and data as the fuel. He emphasized that many e-commerce companies are attempting to develop advanced AI solutions without having the necessary resources.
The study conducted by Lucidworks examined which companies are actively using AI-powered tools on their websites. While over 70% have some form of AI capabilities such as AI summarization and dynamic personalization, only a small fraction (6%) have fully implemented an agentic AI solution. Despite leaders expressing confidence in their AI progress, a survey included in Lucidworks’ report revealed that 83% of them are significantly concerned about their advancements in AI, showing an eight-fold increase in worry compared to two years ago.
Lucidworks advises companies lagging behind in AI adoption to focus on incremental improvements rather than getting overwhelmed by the vast potential of AI. Implementing basic enhancements like multi-language support on websites can be a good starting point. Leveraging AI-powered recommendations can enhance customer experience without necessarily reducing staff numbers.
Hristo Borisov, CEO of Payhawk, shared how he has expanded his engineering team while utilizing AI to scale operations during a recent conversation. He highlighted how AI has boosted productivity within his company and paved the way for hiring more employees. The integration of AI has allowed Payhawk to grow rapidly while maintaining high levels of customer satisfaction through improved efficiency across various departments.
In light of recent developments surrounding federal regulations on AI, Cloudflare has taken proactive measures by blocking web crawlers from scraping data hosted on its platform for training artificial intelligence models. This move aims to protect website content and ensure that AI firms obtain explicit consent before accessing information for training purposes.
Lastly, several notable appointments have been made in the tech industry: Martin Stumpe will become Danaher Corporation’s Chief Technology and AI Officer, Julian Delany has been appointed Chief Technology Officer at News Corp, and Rafael Sanchez joins Bloomin’ Brands as Senior Vice President and Chief Information Officer. These personnel changes reflect ongoing advancements and leadership transitions within the technology sector.