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Sidestepping AI’s Pitfalls: The Unforeseen Implementation Risks

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The genie is out of the bottle, with AI poised to grant the wishes of every competitive enterprise with efficiency, profit, and growth. However, relying on the promises of nascent technology heedless of its potential pitfalls can undermine its eagerly anticipated benefits. Companies risk mismanaging massive amounts of data without defining and aligning tangible business goals with clear objectives. Rich Fennessy, CEO of Trace3, encourages businesses to develop robust data management strategies that support the successful integration of AI and other emerging technologies to avoid stagnation, increased cybersecurity threats, and missed financial opportunities.

IRVINE, Calif., July 8, 2024 /PRNewswire-PRWeb/ — It’s becoming less a matter of “if” or “when” companies will incorporate AI tools into their business model, but rather “how” they will integrate its advantages into their daily operations. According to research conducted by Exploding Topics, 77% of companies are currently using or exploring the applications of AI in their businesses, with 83% reporting that AI is a top priority in their future plans. Nine out of ten organizations believe AI offers a competitive advantage. (1) However, despite all the optimism surrounding its limitless possibilities, 70% to 80% of all AI projects fail. (2) Rich Fennessy, CEO of Trace3, advises, “To mitigate the financial risks associated with the high failure rate of AI projects, companies should adopt a practical and strategic approach. Focus on selecting the right use cases that align closely with business objectives and offer clear, measurable outcomes. Prioritize high-impact, feasible projects that can demonstrate quick wins, thereby building confidence and securing further investment.”

“Maintaining a competitive edge in today’s AI-driven landscape requires a purposeful approach,” emphasized Rich Fennessy, CEO of Trace3. “It’s about aligning technology with business strategy and ensuring AI readiness for success.”

Emerging technologies arrive in tandem with associated risks that are often overlooked. Misalignment with strategic goals can lead to poor ROI and low buy-in and shortcuts in technology infrastructure impede progress and increase costs. The demand for experts and workforce retraining slows adoption, while a lack of expertise among executives can impact decision-making and risk assessment. Treating emerging technology as incremental improvement rather than transformative can limit success. The lightning-fast pace of innovation can outpace risk assessment and regulation, leading to safety and security concerns. Large volumes of data create vulnerabilities that require data governance, secure infrastructure, and compliance measures. (3)

Essential Strategies for Successful Technology Integration
Fennessy offers the following solutions to successfully overcome the inherent risks when implementing emerging technology like AI:

1. Develop Robust Data Management Strategies for AI Integration: Data preparation is essential, as many enterprises struggle with data quality and availability issues. Establish strong data governance with clear policies for quality, security, and privacy. Use data profiling to identify inconsistencies and anomalies. Implement scalable architectures like data lakes or warehouses to store, manage, and organize diverse data types efficiently.
2. Align AI Projects With Business Objectives: Engage both business and technical stakeholders to identify specific AI use cases that align with business objectives and deliver measurable outcomes, using techniques like “art of the possible” workshops to uncover potential ideas. Conduct pilot projects to test and refine these use cases, focusing efforts on high-impact areas and being prepared to pivot if necessary.
3. Mitigate Financial Risks of AI Project Failures: Poor data quality and management are common reasons for AI project failures. Invest in reliable data assessment, cleansing, and validation. Establish strong data governance frameworks to maintain data integrity, security, and compliance. Choose the right platforms for AI deployment, such as cloud solutions offering advanced AI and machine learning tools, pre-built models, and infrastructure, significantly reducing initial setup costs and time.
4. Address Ethical Concerns in AI and Emerging Technologies: Communicate clearly on data usage and AI decision-making processes. Implement oversight mechanisms to prevent misuse and ensure compliance. Adhere to data protection regulations, employ anonymization techniques, and audit AI systems to identify and mitigate bias.
5. Balance Operational Disruptions with Innovation: AI should be implemented as an integral business component, requiring visionary leadership and a culture of testing assumptions to foster technical trust. While explainability is crucial in critical use cases, preparing for future adoption remains essential for evolving technologies.
6. Cybersecurity Measures for Emerging Technologies: Organizations must ensure transparency in data handling, aligning with the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and other privacy standards while enhancing anonymization and cybersecurity. Mitigating bias involves using diverse datasets, regular audits, and adopting bias detection tools for AI. Establishing ethical AI frameworks and ongoing employee education promotes responsible deployment aligned with organizational values.
7. Ensure Regulatory Compliance in Technology Implementations: Regular risk assessments identify tech vulnerabilities and monitor threats. Solid security systems like the NIST Cybersecurity Framework, ISO/IEC 27001, and CIS Controls ensure comprehensive protection with advanced endpoint security, network segmentation, encryption, and strong access controls. Implementing vulnerability management, incident response plans, and ongoing training to defend against cybersecurity threats are crucial for organizations using third-party services.

Trace3 transforms enterprises through collaborative, strategic consulting, adaptive technology, and convergent solutions that deliver visible and measurable results. Fennessy concludes, “Maintaining a competitive edge in today’s AI-driven competitive landscape requires a purposeful approach. It’s not simply about getting on board with the latest technology, it’s about bending it to align with your strategy and desired business outcomes, while ensuring your AI data readiness supports a roadmap that leads straight to success.”

About Trace3:
Today there is a great deal of noise in the technology industry around AI, but not much practical intelligence is offered. Trace3, based in Irvine, California, delivers over 20 years of expertise in delivering innovation in the form of emerging technology, providing unique technology solutions and consulting services to change this – and drive its implementation across enterprises. Their elite engineering and dynamic innovation provide convergent solutions that embrace emerging technology and drive measurable value. Trace3 embodies the spirit of a startup with the advantage of a scalable business. Trace3 believes that ALL Possibilities Live in AI. For more information, visit http://www.trace3.com.  

References:
1. Tprestianni. “131 AI Statistics and Trends for 2024.” National University, 1 Mar. 2024, nu.edu/blog/ai-statistics-trends/#:~:text=According%20to%20research%20completed%20by,priority%20in%20their%20business%20plans.
2. Rschmelzer. “Top Reasons Why AI Projects Fail.” Cognilytica, 26 Dec. 2023, cognilytica.com/top-10-reasons-why-ai-projects-fail/#:~:text=The%20Shocking%20Truth%3A%2070%2D80%25%20of%20AI%20Projects%20Fail!,-Despite%20the%20buzz&text=Not%20surprisingly%2C%20there%20are%20a,ways%20to%20navigate%20these%20challenges.
3. “Eight Overlooked Emerging Tech Risks and How to Mitigate Them.” ISACA, isaca.org/resources/news-and-trends/newsletters/atisaca/2024/volume-9/eight-overlooked-emerging-tech-risks-and-how-to-mitigate-them. Accessed 1 July 2024.

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Karla Jo Helms, JOTO PR™, 727-777-4629, khelms@jotopr.com, jotopr.com

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Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24

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The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.

TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.

“I am very humbled and proud to be a part of the book, “Daanis the Judge.” My hope is that this book will inspire youth to dream big and know that anything is possible. I am evidence of that!” – Justice Michelle O’Bonsawin

Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.

“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.

The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.

About Chapter One

Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.

Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.

In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.

Event details

The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.

Media Contact

Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca

View original content to download multimedia:https://www.prweb.com/releases/supreme-court-justice-michelle-obonsawin-joins-elementary-students-for-live-virtual-qa-and-chapter-one-storybook-reading-on-sep-24-302254639.html

SOURCE Chapter One Canada

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PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

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24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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Global Times: China opens 12 nuclear research facilities to global scientists

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The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

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