The Rule of 70 - Your AI Goalpost

Recently, I discussed an MIT study revealing that a staggering 95% of AI projects yield no measurable ROI. This is a stark contrast to what we're seeing: our AI implementations are delivering over 400% ROI. This discrepancy is unsettling, but I believe I've identified the core reason.

Here's the bottom line upfront: If you've been working on an AI project for two months or more and haven't yet achieved a measurable 200% ROI, something is fundamentally wrong. The number one reason we're observing this failure in the banking sector is simple: going it alone.

Pitfall #1: The Perils of Going It Alone

Companies struggling to realize ROI from their AI systems are typically attempting in-house solutions. This often involves either existing internal teams or expensive consultants who aren't deeply invested in the long-term success of the organization. The result? Projects drag on endlessly, delivering negative ROI.

Think about it: you wouldn't develop your core banking system or CRM in-house, and for good reason. Enterprise-level AI isn't much different. While using tools like Copilot or ChatGPT feels easy, it's akin to having your team manage customer relationships on a shared Excel spreadsheet – it simply doesn't scale.

Why does this "go it alone" approach consistently fail?

• Overlooking Critical Aspects: Initial in-house implementations often miss essential components like proper software tooling, seamless integrations, robust data pipelines, and the long-term maintenance required as data and processes evolve. The initial "zero to one" might seem straightforward, but achieving the necessary quality for ROI quickly becomes challenging.
• Slow Progress: Internal teams often work on AI projects part-time. They're solving complex problems for the first time, and the learning curve is steep. This inevitably leads to sluggish progress.
• Compromised Quality: If you're using the wrong tools or approaches (and a pro tip: if you're currently using Copilot for enterprise-level AI, you likely are), the quality of your solution will suffer.
• Lagging Adoption: A significant hurdle is adoption. If AI tools aren't seamlessly built into your existing workflows, they're often side-chained, difficult to use, and consequently, go unused. Without widespread adoption, you won't see any benefit.
• Missing Empirical Reporting: Crucially, empirical data and reporting are frequently absent. This leaves you in the dark, unable to determine if your AI initiatives are actually working or delivering value.

The Rule of 70: Your AI Goalpost

So, how do you know if you're on the right track? I use what I call the "Rule of 70": 70% adoption and 70% automation across the entire process you're targeting, with verifiable data to prove it.

We've seen this rule in action with incredible results. For instance, our first customer literally doubled the size of their bank while simultaneously shrinking their compliance and operations departments. During this transformation, the customer and employee experience improved dramatically. This level of success is not only possible but happening right now.

The Hard Truth and Your Next Step

Here's the hard truth: if nothing changes, the 5% of companies successfully leveraging AI are positioning themselves to either acquire or bankrupt the 95% that aren't getting results. I don't want to see that happen to you.

Time is money. AI implementations can be quick, delivering value rapidly. Waiting for results is costing you hundreds of thousands, if not millions, of dollars per year, not to mention lost ground to competitors.

If you're reading this and thinking, "I don't believe that's true," consider which category you might be falling into. But if you resonate with these challenges, reach out. Visit our website or message me on LinkedIn, and let's book a call. I want to help you. I can either assist you in fixing your current project or provide an out-of-the-box solution that will generate immediate ROI.

Don't wait. Be realistic about your AI investments and ensure you're getting those significant returns. Book a call if you need any help whatsoever. We can help you fix a flagging existing project or offer one of our AI products that can get you going within weeks.