The AI revolution was supposed to change everything, from how we work to how we live. But two years after the hype around AI tools like ChatGPT, the technology still hasn’t delivered on its transformative promises. In his keynote speech at AdriatiCON 2024, Marko Perme, CEO at Agilcon, unpacks why AI hasn’t met expectations and what businesses need to focus on now to unlock its true potential.

 

 

What Happened to the AI Revolution?

Think back to when you first tried ChatGPT—maybe it was crafting a quick poem or summarizing an article. It felt like a taste of the future. It was exciting. AI was supposed to be the “next big thing,” revolutionizing our work, companies, and lives. But two years later, AI has yet to live up to the hype.

 

Based on insights from a recent The Economist article titled What Happened to the Artificial Intelligence Revolution?, the piece reveals a sobering reality: AI, for all its promise, has had almost no noticeable economic impact so far.

 

“They didn’t find any macroeconomic data showing gains in efficiency or productivity in businesses. And they haven’t seen a lot of cases where companies have successfully integrated artificial intelligence into their business processes.”

 

Sure, we’re all using ChatGPT to whip up content or streamline emails. But a true integration of AI that meaningfully transforms business operations? It’s still missing in action. So what is going on?

 

 

 

Welcome to the Valley of Disillusionment

Marko points out that we may be stuck in “Valley of Disillusionment” (or, as Gartner calls it, the “Trough of Disillusionment”)—that awkward phase where the initial excitement around a new technology gives way to doubt. Early adopter failures, regulatory scrutiny, and a reevaluation of strategies have fueled skepticism. We’re not just disappointed; we’re inching toward a sarcastic view of the whole technology.

 

 

 

 

But this isn’t where the story ends. Like other groundbreaking technologies, AI needs time to mature, evolve, and—most importantly—properly integrate into business processes. It’s not about flash; it’s about foundation.

Laying the Foundation for Real AI Transformation

“There are a few themes I keep hearing when I talk to business leaders—in marketing, sales, service, and HR,” Marko pointed out. What are those?

 

1. “No shortcuts to the intelligence age”

In business, the hard truth is that this AI future has no chance if we’re not already well-digitized. If our data isn’t well-connected and centralized, and our workflows, business processes, and automation aren’t digitized.

 

So, there’s good news and bad news. If you haven’t invested in the good old digital transformation up to now, don’t dream about AI—it simply won’t happen.

 

But if you have invested in digital transformation—if you have centralized, digitized, well-connected, structured, and multimodal data, and your workflows and business processes are digitized—then you’re actually set up to build a robust AI strategy.

 

 

2. “AI Compliance will be of critical importance”

The new EU AI Act categorizes AI systems into four risk levels:

 

• Minimal Risk: Low-risk systems, like email spam filters, which don’t require much regulation.
• Unacceptable Risk: Systems that manipulate users—unlikely to apply in business settings.
• Limited Risk: Systems interacting with real people, such as chatbots, where transparency is required. Users must be informed they’re communicating with AI and give consent if their data is processed.
• High Risk: Systems that impact critical areas, such as health or career decisions. For example, if an AI agent recommends which candidate to hire or sets employee goals or performance indicators, stricter controls and compliance with EU regulations will be required from both users and technology providers.

 

 

The regulation milestones began in August 2024, with a phased rollout. A key date is August 2026, when rules for high-risk and limited-risk AI systems take effect. 

 

Perme’s recommendation for avoiding a stressful summer in 2026 is to ensure that, whatever AI systems you introduce from now on, you’re aware of their compliance status and how they can meet regulatory requirements by that date.

 

 

3. “Our AI pilots are failing”

Another thing we are hearing from customers is that many AI pilot projects are failing. This trend, dubbed “pilotitis” by The Economist, describes how many enterprises are caught up in experimentation, with pilots not delivering results.

 

So why is this happening? We see many companies making superficial attempts at introducing AI. Take, for example, the concept of a “co-pilot,” which you may have seen in other systems. It’s often quite surface-level, focused on replacing the existing user interface with a chat-based one, but it doesn’t integrate well with business processes. So, it can’t perform actions like creating orders, qualifying leads, or recommending goals to a team lead for an employee. As a result, its added value is minimal. There may be other uses, but they’re not particularly impactful.

 

Perme shared two amusing examples of AI failures from a recent American magazine headline: McDonald’s halted its AI experiments in June after the AI mistakenly took orders like “ice cream with bacon” and even charged a customer $122 for McNuggets at the drive-thru. While these issues will likely diminish over time, pilots—despite their challenges—remain a necessary first step.

 

“Despite these challenges, I haven’t met a single business leader in the region who isn’t 100% convinced of the huge potential AI holds for business. In fact, several use cases are already being actively and intensively discussed,” Perme pointed out.

 

 

From Skepticism to Strategy: Laying the Groundwork for AI Success

In the first part of his keynote speech at AdriatiCON 2024, Marko Perme explored why AI hasn’t yet fulfilled its transformative promises and how businesses can lay a strong foundation for success by addressing skepticism and planning thoughtfully.

 

In the second part of his keynote, he shifted focus to the future of AI in business, outlining Agilcon’s four key pillars for leveraging Salesforce and Gecko technologies. These pillars show how businesses can unlock AI’s full potential while empowering both employees and customers.

 

 

Check out Agilcon’s Guide to the Intelligence Age here!

 

Whether it’s aligning your data, digitizing workflows, or navigating compliance, Agilcon is here to help you lay the foundation for success. Let’s build the future—together. Get in touch today!