95% Business leaders view AI vital but only 17% use it: Study

Business Leaders & AI

New Jersey, USA – Bangalore, India: 95% Business leaders consider AI critical but only 17% use it across the organisation reveals Wipro’s new study.

The new State of Intelligent Enterprises‘ study emphasizes that future enterprises will be built on a foundation of Artificial Intelligence (AI), Analytics, Machine Learning (ML), Deep Learning (DL) and Automation that are central to solving business problems and driving innovation.

Most businesses or their business leaders consider AI to be critical to improve operational efficiency, reduce employee time on manual tasks, and enhance the employee and customer experience.

The ‘State of Intelligent Enterprises’ study examines the current landscape and shows the challenges and the driving factors for businesses to become truly Intelligent Enterprises.

Wipro surveyed 300 respondents (IT and Business leaders) in UK and US across key industry sectors like financial services, healthcare, technology, manufacturing, retail and consumer goods.

The study highlights that while collecting data is critical, the ability to combine this with a host of technologies to leverage insights creates an Intelligent Enterprise. Organisations that fast-track adoption of intelligent processes and technologies stand to gain an immediate competitive advantage over their counterparts.

Interestingly, the study finds that 80% of organisations recognise the importance of being intelligent, but only 17% would classify their organisations as an Intelligent Enterprise.

Among the surveyed, 98% of Business leaders believe that being an Intelligent Enterprise yields benefits to organisations. The most important benefits include improved customer experience, faster business decisions and increased organizational agility.

However, 91% organisations feel there are data barriers towards being an Intelligent Enterprise, with security, quality and seamless integration being of utmost concern.

Probably, that’s the reason why only 17% Business leaders leverage AI across the entire organisation, although 95% of Business leaders surveyed see AI as critical to being Intelligent Enterprises.

And 74% of organisations, according to the study consider investment in technology as the most likely enabler for an Intelligent Enterprise. However, 42% think that this must be complemented with efforts to the re-skill workforce.

According to Jayant Prabhu, Wipro‘s VP & Head – Data, Analytics & AI, organisations now need new capabilities to navigate the current challenges and the study amplifies the opportunity to gain a first-mover advantage to being intelligent.

“The ability to take productive decisions depends on an organisation’s ability to generate accurate, fast and actionable intelligence. Successful organisations are those that quickly adapt to the new technology landscape to transform into an Intelligent Enterprise,” said Prabhu.

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