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Motley Fool Hidden Gems Investing

Why Most AI Projects Will Fail — And How to Find the Companies That Won't

Motley Fool Hidden Gems Investing

The Motley Fool

Investing, Business

4.33.1K Ratings

🗓️ 12 July 2026

⏱️ 25 minutes

🧾️ Download transcript

Summary

ROI supersedes AI. That's the blunt verdict from Steve Lucas, Chairman and CEO of Boomi, who has spent 30 years at the top of enterprise software. With OpenAI burning $3 billion a month and Gartner projecting that up to 40% of enterprise AI projects will be abandoned by 2027, the blank-check era for AI spending is over — and the reckoning is coming faster than most investors realize. Motley Fool analyst Rachel Warren sits down with Steve to unpack what Wall Street is missing: why the next wave of AI winners won't be the flashy model makers, how to spot the difference between a real AI strategy and expensive spin, and the single metric that separates transformative technology from hype. Host: Rachel Warren Guest: Steve Lucas Producers: Bart Shannon, Lauren Budabin Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We’re committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The one company that is unequivocally making money from AI is in video.

0:07.0

That's the one company that seems to be making a ton of money.

0:10.0

There's a lot of other companies that have proven they can build amazing models

0:14.0

and lose extraordinary amounts of money.

0:26.6

That was Steve Lucas, chairman and CEO of Boomy, explaining who is actually making money in AI right now, and who isn't. Steve is a 30-year enterprise software veteran who previously turned

0:32.3

Marquetto into a $4.75 billion acquisition. I'm Motley Fool analyst Rachel Warren. Steve has sat across the table

0:40.0

from hundreds of CEOs navigating the AI moment, and what he's hearing might surprise you.

0:45.5

We discuss the ROI reckoning that's coming, what separates real AI winners from expensive experiments,

0:51.4

and why the next wave of big beneficiaries probably isn't who you think.

0:55.6

We hope you enjoy.

0:57.6

Welcome back to Motley Fool Conversations. I'm Motleyful analyst Rachel Warren.

1:02.4

Today we're looking past the AI hype cycle to focus on execution, data infrastructure,

1:07.4

and true return on investment. Joining us is Steve Lucas, chairman and CEO of Bumi.

1:12.8

Steve is a multi-time CEO with nearly 30 years of enterprise software leadership, including

1:16.8

senior roles at Salesforce and Adobe. And previously as CEO of Marquetto, he drove a massive turnaround

1:22.3

resulting in a $4.75 billion acquisition by Adobe. Now at the helm of Boomy, a data activation powerhouse

1:30.0

serving over 30,000 global customers. Steve is here to talk about the current state of AI,

1:35.6

where corporate tech budgets are actually moving, and how investors can spot the real winners.

1:40.3

Steve, welcome to the show. Thank you, Rachel. Happy to be here.

1:44.7

So for the last few years, it seems as though investors have largely rewarded companies

1:50.4

for simply having an AI strategy using the right AI buzzwords and earnings calls.

1:55.8

But it seems we're entering something of the next phase in that journey where Wall Street

...

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