AI to be a Priority for Organizations But Few Have Implemented an Enterprise-Wide Strategy

Reading time ( words)

A recent International Data Corporation (IDC) survey of global organizations that are already using artificial intelligence (AI) solutions found only 25% have developed an enterprise-wide AI strategy. At the same time, half the organizations surveyed see AI as a priority and two thirds are emphasizing an "AI First" culture.

"Organizations that embrace AI will drive better customer engagements and have accelerated rates of innovation, higher competitiveness, higher margins, and productive employees. Organizations worldwide must evaluate their vision and transform their people, processes, technology, and data readiness to unleash the power of AI and thrive in the digital era," said Ritu Jyoti, program vice president, Artificial Intelligence Strategies.

The primary drivers behind these organizations' AI initiatives were to improve productivity, business agility, and customer satisfaction via automation. Faster time to market with new products and services was another leading reason for implementing AI. The cost of AI solutions, a lack of skilled personnel, and bias in the data were identified as the primary factors holding back the implementation of AI technology in these organizations.

Other key findings from the survey include:

  • More than 60% of organizations reported changes in their business model in association with their AI adoption.
  • IT operations is the number 1 business area for employing AI, followed closely by customer service and fraud/risk management.
  • Trust, bias, and ethics considerations are gaining importance: nearly 50% of organizations reported having a formalized framework to encourage considerations of ethical use, potential bias risks, and trust implications, and close to 25% have established a senior management position to ensure adherence.
  • Most organizations reported some failures among their AI projects with a quarter of them reporting up to 50% failure rate; lack of skilled staff and unrealistic expectations were identified as the top reasons for failure.

"For many organizations, the rapid rise of digital transformation has pushed AI to the top of the corporate agenda. However, as AI accelerates toward the mainstream, organizations will need to have an effective AI strategy aligned with business goals and innovative business models to thrive in the digital era," noted Jyoti.

The IDC report, Artificial Intelligence Global Adoption Trends & Strategies, summarizes the results of a global survey of 2,473 organizations that are using artificial intelligence (AI) solutions in their operations, either developing them in-house, using COTS, or a combination of both. Key findings relate to these organizations' AI strategy, culture, and challenges that have held/hold organizations back from implementing AI; business process areas with focus for AI solutions; AI data–readiness initiatives; and production deployment trends and training and inferencing growth expected within the next 12–24 months. The survey was conducted in May 2019.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company.



Suggested Items

For Climbing Robots, the Sky's the Limit

07/15/2019 | NASA
Robots can drive on the plains and craters of Mars, but what if we could explore cliffs, polar caps and other hard-to-reach places on the Red Planet and beyond? Designed by engineers at NASA's Jet Propulsion Laboratory in Pasadena, California, a four-limbed robot named LEMUR (Limbed Excursion Mechanical Utility Robot) can scale rock walls, gripping with hundreds of tiny fishhooks in each of its 16 fingers and using artificial intelligence (AI) to find its way around obstacles.

Enabling Revolutionary Nondestructive Inspection Capability

06/17/2019 | DARPA
X-rays and gamma rays have a wide range of applications including scanning suspicious maritime shipping containers for illicit materials, industrial inspection of materials and processes, and medical diagnostic and therapeutic procedures.

NASA Selects First Commercial Moon Landing Services for Artemis Program

06/11/2019 | NASA
NASA has selected three commercial Moon landing service providers that will deliver science and technology payloads under Commercial Lunar Payload Services (CLPS) as part of the Artemis program. Each commercial lander will carry NASA-provided payloads that will conduct science investigations and demonstrate advanced technologies on the lunar surface, paving the way for NASA astronauts to land on the lunar surface by 2024.

Copyright © 2019 I-Connect007. All rights reserved.