Businesses gaining value from artificial intelligence experimentation: Mindtree study
Organisations worldwide are achieving their vision to industrialise artificial intelligence (AI) but many can do more to gain real business value, according to findings of a recent survey by technology services and digital transformation company Mindtree.
The survey, which gathered data from 650 global IT leaders from key business markets, found 85 per cent of organisations have a data strategy and 77 per cent have implemented some AI-related technologies in the workplace with 31 per cent already seeing major business value from their AI efforts.
The study showed certain business functions such as sales (35 per cent) and marketing (32 per cent) gaining the most value from AI as it accelerates the delivery of improved customer experiences. The most popular technologies deployed by global organisations are machine learning (34 per cent), chatbots (34 per cent) and robotics (28 per cent).
“The potential of AI to disrupt, transform and rebuild businesses is clearly felt in the C-Suite even if it is not yet fully understood,” said Suman Nambiar, Head of Strategy, Partners and Offering for Digital at Mindtree.
“Business and technology leaders are increasingly expected to prove business value, unlock the power of their data, and define their AI strategy and roadmap. To thrive in the digital age, businesses must be agile and unafraid of failure.”
They must also constantly refine their understanding of how AI will give them a competitive edge and deliver real and measurable business value to maximise their investment in these disruptive and powerful technologies,” said Nambiar.
However, the survey showed that more than half (51 per cent) of large enterprises say they do not fully understand the data infrastructure needed to implement AI at scale while six out of 10 organisations believe their data infrastructure and architectures are immature and not well-positioned to deliver business value.
Success with AI means merging rapid experimentation, organisational agility and skills. AI is already delivering measurable business benefits, but the majority of enterprises are yet to find a formula for repeatable success, said the study.
The online survey was conducted by Censuswide and the data was gathered from 650 global IT leaders with an equal breakdown of 325 respondents from Britain and the United States in sectors like manufacturing, financial services, retail, travel and fast-moving consumer goods.
Finding the right use cases and building alignment and support for AI initiatives are critical but data is the make-or-break variable when it comes to scaling AI across the enterprise. “Businesses need to modernise their data infrastructure, architectures and systems along with an overarching data strategy and robust data governance processes,” said the study.