Dr. Michael G. Kollo, CEO of Evolved AI, addressed the common mistakes organisations make with AI adoption at CIO Edge.

He highlighted that AI is often misunderstood as a purely technological tool rather than a strategic business enabler.

This misunderstanding leads to a misalignment between AI initiatives and broader business goals, often relegating AI projects to the IT department instead of embedding them within core business functions.

Michael emphasised the importance of decentralised AI adoption, where multiple teams across an organisation develop AI expertise, rather than relying on a central team to drive AI initiatives.

He also touched on the challenges organisations face when integrating AI, particularly around employee adoption and the organisational culture.

He pointed out that while AI tools like copilot systems can significantly improve efficiency, especially among less experienced employees, more seasoned workers often resist these tools, fearing a loss of autonomy or job security.

This resistance is exacerbated by the negative narratives surrounding AI, which contribute to a lack of enthusiasm and buy-in from the workforce.

Michael stressed the need for organisations to address these cultural and psychological barriers to ensure successful AI adoption.

There is also the misconception that AI implementation requires perfect data. He argued that generative AI, unlike traditional machine learning models, can be effectively integrated into existing workflows without needing comprehensive data preparation.

However, he noted that a deep understanding of business processes is crucial for identifying the right AI applications.

Without this understanding, AI initiatives may seem abstract or disconnected from the organisation’s core objectives, leading to ineffective or misaligned AI deployments.

 

Key takeaways:

  • AI implementation misconceptions: Organisations often mistakenly view AI as a purely technological tool rather than a business enabler, leading to misalignment with strategic goals and ineffective adoption across departments.
  • Cultural and human factors: Successful AI adoption requires addressing cultural resistance and negative perceptions among employees, especially experienced workers who may be hesitant to use new AI tools.
  • Understanding business workflows: For AI to be effectively integrated, organisations must have a deep understanding of their own workflows and how AI can enhance them, rather than relying on generic or superficial approaches.
Contributors
Dr. Michael G. Kollo Director of AI at ADAPT
Dr. Michael G. Kollo is recognised as an accomplished executive leader and educator within the realm of artificial intelligence’s significance in business... More

Dr. Michael G. Kollo is recognised as an accomplished executive leader and educator within the realm of artificial intelligence’s significance in business strategy and product development across various sectors including financial services, technology, and public services. Holding a portfolio of leadership roles, Michael has contributed his expertise to renowned institutional investors such as Blackrock, Fidelity, Renaissance Asset Management, Axa Investment Managers, and HESTA. Additionally, he served as a non-executive director for Clime Investment Managers, an ASX-listed entity.

In the entrepreneurial sphere, Michael has been involved with AI and software companies, notably as a key figure at Faethm Pty, an Australian AI software company that was acquired by Pearsons in 2021, and at the Blockchain company Clanz. Beyond entrepreneurship, he actively participates in mentoring and supporting fintech and cybertech startup ecosystems in London and Australia.

In the realm of academia, Michael boasts a PhD in Finance from the London School of Economics, coupled with extensive lecturing experience at esteemed institutions such as the LSE and Imperial College. He has also been invited as a speaker at TedX events, focusing on the responsible utilisation of AI. With publications addressing machine learning’s application in investment management and contributions to the World Economic Forum’s AI/Fintech panel, Michael’s expertise is widely recognised. Moreover, he has cultivated a global audience through educational podcasts like “Curious Quant.”

As well as Director of AI at ADAPT, Michael is also the CEO of Evolved AI, a distinguished executive education and software development firm dedicated to empowering individuals through effective and responsible AI usage, thereby fostering resilient, transparent, and rapidly evolving enterprises.

Less
data modernisation leadership