Organizations worldwide are eager to harness the power of Artificial Intelligence (AI), but the path to investment is fraught with significant hurdles. The biggest challenge isn’t the technology itself, but the lack of a clear Return on Investment (ROI) framework that convinces CEOs to commit large budgets. Furthermore, a crippling shortage of specialized AI talent and the pervasive issue of data readiness—where internal data is disorganized or not annotated for AI consumption—create fundamental bottlenecks. Finally, poor user adoption and ineffective change management can doom otherwise promising projects, turning potential efficiency gains into wasted investment. The next phase of AI growth depends on enterprises solving these foundational strategic, data, and human challenges.
Karan Thakral, Co-founder and CEO of DevCraft Technologies, discussed the company’s AI solutions and their global presence in sectors like pharma, insurance, and media. He highlighted the transformative potential of AI, comparing it to the impact of computers in the 80s. Key challenges include talent shortages, clear ROI analysis, and data readiness. Organizations need to invest in data management and adoption frameworks. From a solution provider’s perspective, convincing organizations involves building effective ROI frameworks. DevCraft plans to expand into the US market, focusing on the pharma and insurance sectors, leveraging its industry expertise.
The Current State of AI Investment
According to Thakral, companies are making substantial initial investments in AI to enhance processes, content generation, and predictive analytics.
“This time is a game changer,” Thakral asserts. “It’s like when computers came in the ’70s and ’80s and changed the overall paradigm of technology. Right now, a lot of companies are investing heavily in enhancing employee productivity and their current operations, from e-commerce to implementing AI over ERP processes like invoice processing and payables.”
However, he notes that most of these projects are currently in pilot stages. “The real investment will come when companies are ready to bring these solutions to scale,” he adds.
Challenges for CIOs and Organizations
When discussing the roadblocks organizations face before large-scale AI implementation, Thakral outlined four primary challenges:
Talent Shortage: “Talent is the biggest issue. Talent density is very concentrated in a couple of areas of the world, like San Francisco and Bangalore. It’s a massive problem.”
Lack of Clear ROI Analysis: Many organizations, though willing to invest, struggle to perform a clear Return on Investment (ROI) analysis. They cannot definitively quantify how an AI intervention will add value, whether through efficiency gains, new revenue streams, or cost savings.
Data Readiness: “Companies either don’t have data, or they don’t have data ready for AI.” Data is often disorganized and unannotated. Thakral stresses the urgent need for companies to invest in owning their data, building data pipelines, and constructing data warehouses—the fundamental bedrock for any successful AI project.
Adoption and Change Management: Even after an AI solution is built, the biggest challenge is user adoption within enterprise teams. “If you build it and no one is using it, it’s a failed investment and a waste of money,” he warns. Implementing the right change management frameworks is crucial to ensure teams use the systems, provide feedback, and allow the AI to improve over time.
Convincing the C-Suite: The Solution Provider’s Hurdle
From the perspective of an AI solutions provider like Devkraft, the main challenge in convincing organizations to commit to a project is demonstrating the ROI framework.
“They still see it as an investment—and they have to,” Thakral explains. “If they do ten investments, nine will fail, and one will go ahead. Our biggest challenge is explaining to the CEOs the ROI and how we will take this to adoption.” Only by building a solid, understandable ROI framework can a solution provider gain traction.
Devkraft Technologies plans to focus its expansion on the US market, in addition to its existing presence in India and the UAE. Strategically, the company is prioritizing a vertical AI approach, focusing specifically on the Pharma and Insurance sectors. Thakral believes this sectoral focus allows them to build deep industry expertise and solve problems where significant investment is readily available.
