Global TCS study: AI implementation - not a sprint, a marathon
Artificial intelligence (AI) will be the next big technological revolution. But how are companies preparing for it? A new study by TCS (Thought Leadership Institute), a consultancy for IT services and business solutions, sheds light on this. Around 1,300 CEOs or managers with budget responsibility from twelve industries in 24 countries were surveyed.
According to the survey, more than eight out of ten managers (86%) are already using AI in their company to increase turnover or tap into new sources of revenue. In fact, 69% of companies use AI primarily to drive innovation and increase sales, rather than primarily to increase productivity and optimize costs. More than half of those surveyed believe that the importance of AI will be greater than or equal to that of the internet (54%) and the smartphone (59%).
"We are now entering an era where AI is being widely adopted in organizations," says Harrick Vin, Chief Technology Officer TCS. "However, companies recognize that the path to implementing AI solutions is not easy and that building an AI-ready organization is a marathon, not a sprint, as our study confirmed."
According to the study, the biggest challenges include companies' current IT infrastructure and customer expectations. Companies also recognize the need to measure the success of AI implementations using more than just existing parameters: Almost three quarters of respondents (72 percent) lack appropriate metrics to evaluate the success of AI implementation. The survey underlines how important it is for companies to take a strategic approach to the introduction of AI and to develop the right performance indicators.
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