As much as 80% of enterprises are investing in artificial intelligence (AI) today. But, one in three business leaders believes his/her company will need to invest more over the next 36 months to keep pace with competitors, according to a survey conducted by market research firm Vanson Bourne on behalf of Teradata, a U.S.-based data and analytics company.
At the same time, it said, enterprises are anticipating significant barriers to adoption and are looking to strategise against those issues by creating a new C-suite position, the chief AI Officer (CAIO) to streamline and coordinate AI adoption. Teradata said these results come from the survey of 260 large organisations that operate globally, including 60 from the Asia-Pacific region. AI aims to build machines that can simulate human intelligence processes.
“Enterprises today see artificial intelligence as a strategic priority that will help them outpace the competition in their respective industries,” said Atif Kureishy, vice-president, emerging practices at ThinkBig, a Teradata company.
He said to leverage the full potential of this technology and gain maximum return on investment, businesses will need to revamp their core strategies so that AI has an embedded role from “data centre to the boardroom.”
Rajesh Shewani, head, technology and solution architecture, Teradata India said Indian enterprises are recognising AI as an enabler that is crucial to transform their business and stay ahead of the competition.
“In the Indian context, I believe AI can be a huge disruptor as our social and economic problems are bigger and in many ways more complex and challenging,” Mr. Shewani said.