CXO

90% of CXOs already see 'measurable benefit' from AI

Businesses are moving AI out of the experimentation phase and the majority are already seeing results.

Building a slide deck, pitch, or presentation? Here are the big takeaways:
  • 73% of tech leaders, and 90% of CXOs, are already seeing benefits from using AI in the enterprise. — Infosys, 2018.
  • 53% of tech leaders said their business is providing training in functions affected by AI deployments. — Infosys, 2018.

Nearly all executives say they already see a measurable benefit from using artificial intelligence (AI) in the enterprise, according to new Infosys research.

Surveying more than 1,000 tech leaders with AI decision-making power, Infosys found 90% of C-level executives say AI has made an impact within their organization. With such a large percentage already seeing a benefit, firms that aren't investing in AI may need to place a heavier emphasis on better utilizing the technology in order to keep up.

AI technology is no longer just an experiment, the report said, as 86% of respondents said their firms' AI projects are in the middle or late stages. Keeping with the trend, 73% of respondents agreed or strongly agreed that their business' use of AI has already transformed how they do business.

SEE: IT leader's guide to the future of artificial intelligence (Tech Pro Research)

Companies are using the technology to update in-house processes, increasing productivity and efficiency, the report found. Those further along in their AI deployments, however, are trying to differentiate themselves by using the technology to innovate.

Companies are also changing their training procedures to accommodate for the increase in AI deployments. A little over half of respondents-53%-said job training in areas affected by AI is increasing at their firm. Tech leaders said recruitment and training were the most important investment areas in order to make AI a top priority in the workplace.

Around three-fourths of tech leaders said they planned on hiring more AI talent. The heavier focus on AI development may be the reason for the hiring growth, as jobs like machine learning and computer vision engineers in high demand.

Around 80% of respondents said their future business strategy will be determined in some part by AI, so jumping on the AI bandwagon may be necessary to remain competitive for those businesses that haven't done so.

Also see

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Image: iStockphoto/UberImages

About Olivia Krauth

Olivia Krauth is a Multiplatform Reporter at TechRepublic.

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