Firms gain from AI, but need to understand it better

Most businesses are well underway with artificial intelligence experimentation, but many still lack an understanding of the use cases to deliver business value and the data infrastructures for making AI a success across the enterprise on a sustainable basis, a survey by Mindtree shows.

The survey, which gathered data from 650 global IT leaders from key business markets. It found that 85% of organisations have a data strategy and 77% have implemented some AI-related technologies in the workplace, with 31% already seeing major business value from their AI efforts.

“The potential of AI to disrupt, transform and rebuild businesses is clearly felt in the C-Suite, even if it is not yet fully understood,” said Suman Nambiar, head of Strategy, Partners and Offering for Digital at Mindtree.

“To thrive in the Digital Age, businesses must constantly refine their understanding of how AI will give them a competitive edge and deliver real and measurable business value to maximise their investment in these disruptive and powerful technologies,” he said.

When implementing an AI strategy, there’s a pressing need for use cases to demonstrate business value.

The survey found there are certain business functions such as sales (35%) and marketing (32%) gaining the most value from AI, as it accelerates the delivery of improved customer experiences.

The most popular technologies deployed by global organisations are machine learning (34%), chatbots (34%), and robotics (28%).

AI is already delivering measurable business benefits, but the majority of enterprises have yet to find a formula for repeatable success.

The survey revealed more than half (51%) of large enterprises say they don’t fully understand the data infrastructure needed to implement AI at scale, while three out of five organisations believe their data infrastructure and architectures are immature and not well positioned to deliver business value.