80% of companies are already investing in artificial intelligence. What expectations do companies have? And what challenges does the adoption of this technology pose?

 

Artificial intelligence is already part of the daily life of most companies. According to a Teradata study, 80% of companies worldwide are investing in this technology.

However, this has only just begun. In fact, 42% of companies believe that there is still enough to finish implementing artificial intelligence in their companies. And 30% of organizations think they are not yet investing enough < / strong> and consider that will need to expand this investment in artificial intelligence in the next three years in order not to fall behind their competitors in the sector.

The report also details that the sectors in which companies expect to see the greatest impact of artificial intelligence are IT, technology and telecommunications (59%), business and professional services (43%), customer service (32%) and financial services (32%).

Companies believe that returns from the application of artificial intelligence will come from increased revenue (53%) and cost savings (47%). They also believe that this technology < strong> will report benefits in innovation / research and development (50%), customer service (46%) and supply chain and operations (42%). This is reflected in the priorities when it comes to Invest in this technology, since the main areas to which the artificial intelligence investments are destined are customer experience (62%), product innovation (59%) and operational excellence ( 55%).

It should be noted that the average investment of companies in this technology is $ 6.47 million, although this amount amounts to 8.25 million of dollars for companies in the Asia-Pacific area. And companies expect $ 1.99 of ROI in the next five years for every dollar invested today, and 2.87 dollars of ROI in the next ten years.

Regarding the challenges that artificial intelligence can find for adoption in the company, respondents referred to the lack of IT infrastructure (40%), lack of talent specialized (34%), lack of budget for implementation (30%), complications around policies, regulations and rights (28%) and the impact on consumer expectations (23%). It should be noted that only 28% of respondents believe that their companies have given them sufficient internal training to buy, create and use artificial intelligence.

For their part, company managers do not believe that the integration of artificial intelligence will have an impact on the work done by people. Thus, only 21% of respondents said that This technology will replace humans in most business tasks in 2030.

As for those responsible for guiding the implementation of this technology, most companies entrust this task to their Chief Information Officer (47%) and Chief Technology Officer (43%). No However, 62% of respondents expect to hire a Chief Artificial Intelligence Officer in the future.