Did you know that operations technology spending has increased nearly 10% annually for two decades? Yet total factor productivity in the U.S. (which includes capital, labor, energy, materials, and purchased services) has stayed nearly flat.

If you're investing in software or hardware technology (including AI) to improve customer value or optimize internal operations, here's a simple suggestion: Figure out how to solve the problem without technology first.

• If you can do that, technology can take you far.
• If not, you're likely headed for a wasted investment.