by Angela Guess

According to a recent press release, “A whopping 80 percent of enterprises are investing today in AI, but one in three business leaders believe their company will need to invest more over the next 36 months to keep pace with competitors. At the same time, enterprises are anticipating significant barriers to adoption and are looking to strategize against those issues by creating a new C-suite position, the Chief AI Officer (CAIO), to streamline and coordinate AI adoption. These results come from a survey of 260 large organizations that operate globally, conducted by leading technology industry market research firm Vanson Bourne on behalf of Teradata, the leading data and analytics company.”

Atif Kureishy, Vice President of Emerging Practices at Think Big Analytics, commented, There is an important trend emerging evident in this report — enterprises today see AI as a strategic priority that will help them outpace the competition in their respective industries… But to leverage the full potential of this technology and gain maximum ROI, these businesses will need to revamp their core strategies so AI has an embedded role from the data center to the boardroom.”

The release goes on, “The survey results found that companies are bullish and expect their AI investments to be worth the upfront cost. The industries where respondents expect to see the most impact from AI are IT, technology and telecoms (59 percent); business and professional services (43 percent); and customer services and financial services tied for third (32 percent). The top three challenges where businesses expect AI to drive revenue are product innovation/research and development (50 percent); customer service (46 percent); and supply chain and operations (42 percent).”

Read more at Teradata.

Photo credit: Teradata