Business leaders looking for increased revenue, more efficiency and a better experience for their customers can have all of that — if they adopt artificial intelligence (AI) for their organization. That is the promise of AI that many businesses are actively investing in today. There is a huge disruption among many enterprises at an ever-increasing rate of speed but it does come with challenges. Many enterprises are navigating how to establish right strategy to create value from their AI investments and recognizing the trials that come with it.

The Teradata “State of Artificial Intelligence for Enterprises” survey, conducted by UK-based research firm Vanson Bourne, in July 2017, found that:
  • Business are all in on AI - 80% of enterprises already have some form of AI (machine learning, deep learning, etc.) in production today
  • And, they have high hopes for business impact - for every dollar invested today, they expect to double the return in 5 years, and triple in 10 years
  • But, 91% see big barriers ahead - lack of IT infrastructure (40%) and lack of talent (34%) are the biggest ones
  • To set the strategy, a new role is emerging - 62% expect to hire a Chief AI Officer in the future
  • And, what about the big question of AI taking jobs? - 95% think AI will have some impact on human work by the year 2030, but only 21% think AI will replace humans for most enterprise tasks; And, only 20% think this will impact employee morale.
Strategy is key to enterprise success with AI. Don’t leave your organization with the lights off.
                

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