Adoption of Artificial Intelligence (AI) is emerging as a potent force for enterprises to innovate and transform.
As the organizations witness a new paradigm, potential opportunities and benefits from adoption of Artificial Intelligence (AI) seem to be significant and real.The EY and NASSCOM joint study, . ‘Can enterprise intelligence be created artificially?’, explores the maturity of AI adoption along with key challenges faced by organizations in their enterprise AI journeys.
The survey captures the insights of more than 500 CXOs across India to understand the perceptions of industry leaders on what AI means for their businesses and its strategic role in creating long term value. It also highlights the importance of organizations to address the key aspects of talent, data and technology governed by strong risk management framework and realize the transformational benefits of AI.
The “art of possible” for accelerating AI adoption
The survey reflects that enterprises across sectors are embracing artificial intelligence, albeit with varying levels of enthusiasm. Unsurprisingly, sectors which are intensive in terms of recorded or digitized data such as BFSI (36%) or retail (25%) have taken the lead on AI adoption. However, other sectors including healthcare (20%) and agriculture (8%) are also catching up and have many meaningful AI endeavors at different levels of implementation.
- 25% of enterprises have deployed AI solutions
- 60% of business leaders surveyed believe that AI will disrupt their businesses within three years
- 55% of business leaders stated that they trust AI to make strategic and/or operational decisions
Business leaders appreciate the need to deploy AI for staying competitive and generating long-term value. Trust is an essential factor to enterprise-wide AI adoption.
In order to enhance AI adoption, four key impediments need to be addressed