NewVantage Partners Releases 2019 Big Data and AI Executive Survey

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According to a recent press release, “NewVantage Partners, strategic advisors in data-driven business transformation to Fortune 1000 companies and industry leaders, has released the results of its annual Big Data and AI Executive Survey. The theme of the 2019 executive survey is Data and Innovation: Leveraging Big Data and AI to Accelerate Business Transformation. This is NewVantage Partners 7th annual survey of senior corporate c-executives on the topics of Big Data and Artificial Intelligence (AI) business adoption. C-executive decision-makers comprise 97.5% of the survey participants. Nearly 65 Fortune 1000 or industry leading firms are represented in this year’s survey, including American Express, Capital One, Ford Motors, General Motors, Johnson & Johnson, Mastercard, and Met Life. The survey was first conducted in 2012 at the behest of a group of Fortune 1000 business and technology c-executives who sought to understand the potential impact of Big Data, and its implications for their businesses.”

The release goes on, “Key findings of the 2019 NewVantage Partners Big Data and AI Executive Survey are: (1) Firms are ramping up investment in Big Data and AI to accelerate business agility. Leading companies (91.6%) are increasing the pace of their Big Data and AI investments — 75.0% citing fear of disruption from data-driven digital competitors; 91.7% saying investment is required to transform into agile and competitive businesses; 87.8% expressing urgency to invest. Investment in Big Data and AI is increasing, with 55% of firms investing greater than $50MM. (2) Leading companies are struggling with data-driven business transformation. Companies are investing in Big Data and AI, but they are not seeing commensurate results. Though 62.2% report measurable results from their Big Data and AI investments, less than half say they are competing on data and analytics (47.6%), have created a data-driven organization (31.0%), or have forged a data culture (28.3%).”

Read more at Business Wire.

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