by Angela Guess

A new press release states, “NewVantage Partners, strategic advisors in Big Data and business innovation to Fortune 1000 businesses, has released the results of its 2018 6th Annual Big Data Executive Survey, entitled ‘Data and Innovation: How Big Data and AI are Driving Business Innovation.’ The 2018 Big Data Executive Survey reports on the evolution of executive perspectives from nearly 60 Fortune 1000 companies, as firms come to terms with the impact of Big Data, and its implications. 2018 could be characterized as the year that Artificial Intelligence (AI) gained meaningful traction within leading corporations, and this year’s survey reports on how Big Data and AI are driving business innovation. Survey respondents include top business and technology executives from such blue-chip firms as American Express, Bloomberg, Capital One, Charles Schwab, Fidelity Investments, Ford Motors, GlaxoSmithKline, Goldman Sachs, JP Morgan, Met Life, Verizon, and VISA.

The release goes on, “Key findings of the 2018 New Vantage Partners Big Data Executive Survey include: (1) Mainstream firms fear disruption from highly agile data-driven upstarts. One of the biggest surprises of the 2017 executive survey was the percentage of respondents acknowledging the threat of disruption and displacement, with nearly half of executives (46.6%) sharing this concern. The big surprise in the 2018 survey is the sharp jump in this number to 79.4%, representing nearly 4/5 of executive respondents. Why this escalating concern? Executives perceive growing threats from data-driven, highly agile competitors, including the big Tech Giants – Amazon, Google, Apple, and Facebook – as well as those competitors within their own industry who are demonstrating the ability to compete on data and analytics, especially those who have forged data cultures which give them agility and speed.”

Read more at Business Wire.

Photo credit: NewVantage