AI to be a Priority for Organizations But Few Have Implemented an Enterprise-Wide Strategy
July 8, 2019 | IDCEstimated reading time: 2 minutes
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
Accenture Invests in Sanctuary AI to Bring AI-Powered, Humanoid Robotics to Work Alongside Humans
03/27/2024 | BUSINESS WIREAccenture has made a strategic investment, through Accenture Ventures, in Sanctuary AI, a developer of humanoid general-purpose robots that are powered by AI and can perform a wide variety of work tasks quickly, safely and effectively.
AT&S Well Prepared to Benefit from AI Boom
03/26/2024 | AT&SThe rapid progress in the development of artificial intelligence promises to revolutionize all areas of daily life in the coming years. In order to operate such AI systems, an enormous amount of computing power is required, which is provided by a vast network of data centres.
The IMAPS Show: A Conversation with John Andresakis
03/26/2024 | Marcy LaRont, PCB007 MagazineOn the last day of the IMAPS Device Packaging Conference, Marcy LaRont sat down with industry veteran John Andresakis of Quantic Ohmega, who attended the conference this week. Not his first time at this event, he talked about the conference, advanced technology, and trying to get the word out about the advanced packaging substrates solution Quantic is offering.
ACDi Takes Milestone Delivery of the 23,000th Koh Young Machine
03/26/2024 | ACDiAccording to ACDi (American Computer Development, Inc.), “Flexible, reliable, and equipped to keep your project on schedule, is what you need as an electronics manufacturing services partner.”
Insulectro’s Technology Village to Feature 35 Powerchats at IPC APEX EXPO
03/25/2024 | InsulectroInsulectro, the largest distributor of materials for use in the manufacture of PCBs and printed electronics, will present its popular and successful 13.5-minute PowerChats™ during this year’s IPC APEX EXPO at the Anaheim Convention Center, April 9-11, 2024.