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Published: 21/06/2024

5 Pillars of a Successful AI Project: Key Takeaways from Our Webinar

On 20 June 2024 we held a webinar “5 Pillars of a Successful AI Project”. Hosted by our experts Marek Tatara, PhD, and Łukasz Fedorowicz, the webinar gave insights into starting and succeeding with AI projects in business. Here, we summarise some of the key points discussed.

What are the 5 pillars?

Having completed more than 20 AI projects, we understand the fundamental components of a successful AI project. Drawing upon our experience and expertise, we have consolidated the main considerations into 5 pillars of a successful AI project. As outlined during the webinar, these are:

1. Have a clear business case

Choose the best idea, define precise objectives, and check business and tech feasibility to ensure the AI project aligns with your strategic goals and capabilities. Combining the right idea and technology can help you maximise ROI. 

2. Understand what you already have

Assess your existing data, technological infrastructure, and expertise on-board, to determine what you can use and what gaps you need to fill. This way you can ensure the optimal use of your resources. 

3. Use AI project management best practices

Implement specialised project management techniques tailored to AI projects that differ from regular software projects to ensure efficient and effective execution. As there are several distinct project stages, AI project management best practices will allow you to smoothly move from one to another, capitalising on opportunities and introducing changes if needed. 

AI Project Development Stages

4. Gather the right people for the job

Review whether you have the necessary skills and expertise in-house or whether you should partner with an AI vendor. Each of these approaches comes with pros and cons and you need to carefully consider which one will be most suitable for your AI project. 

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5. Prepare data that fits the purpose

With data being the lifeblood of an AI solution, you need to make sure you have sufficient and properly annotated datasets. 

Exclusive tips to prepare for an AI project

Taking time to do a proper analysis of the areas covered by the 5 pillars is crucial. To assist you with it, we prepared a handy cheat-sheet of “Questions to ask internally before starting an AI project”. The list, shared with webinar attendees, can help you thoroughly evaluate your readiness and ensure a solid foundation for your AI project. 

AI Project Preparation Checklist

For more expert tips and checklists, make sure not to miss the next webinar that will happen in the upcoming weeks. 

Practical examples

During the webinar, we delved into practical examples showcasing the diverse applications of AI, based on projects we have successfully completed for our clients. 

We particularly focused on case studies that utilised Computer Vision technology:

We also mentioned other ways AI can be used in business, referring to the following projects:

These success stories illustrate the versatility and transformative potential of AI in various industries. They also showcase our ability to handle any project, from A to Z. 

Audience engagement

We encouraged the active participation of webinar guests and received numerous questions about the average cost of AI solutions, practicalities of AI implementation, and potential AI applications. Our experts provided tailored advice and comments based on their extensive experience but pointed out that specifics vary greatly depending on project scope. For personalised guidance and a free AI project cost estimate, we invite you to get in touch and chat to us about your unique AI needs. 

Next steps: Turn your AI vision into reality

While the webinar served as a comprehensive overview of things to keep in mind when starting to work with AI, we also offer a hands-on experience to help you kick-off your AI project. 

With our AI Roadmap Development Workshop, you can go from an idea to a concrete plan for an AI project in just one day. Discuss ideas with our PhD experts who will help you choose the best one and create a detailed roadmap for it. Book the workshop today and find out how to implement AI in your business for maximum returns. 

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