A PMI, South Asia’s Playbook for Project Management in Data Science and AI Projects, the report said that 88 % of the firms have gaps in AI project management practices. The survey of 300 firms said that the failure rate of big data projects was a whopping 55 % and going by that rate firms will collectively waste $54 bn in 2023 and at least $11 bn of this amount can be directly attributed to poor AI project management practices.