Companies using artificial intelligence realize important savings, innovate faster

Most managers in large companies say they want to use advanced data analysis tools to remain competitive. However, more than two-thirds of respondents have not yet taken concrete steps in this direction.

From detecting bank fraud, predicting energy consumption, or interpreting medical diagnosis, advanced data analysis system have become a necessity for many companies and industries. While Artificial Intelligence is a natural component in many business processes, business need to respond to challenges to stay innovative and respond to real –time costumer needs.

Nearly three-quarters of organizations (72%) claim that analytics help tem generate valuable insight and 60% say their analytics resources have made them more innovative. A third of respondents’ report that it is used tactical projects only. The responses suggest that companies know analytics can help them, but they lack a clear and common understanding of the benefits of using a platform approach across the enterprise and the analytic life cycle.

On the other hand, some business developers are quite enthusiastic. For example one who declares ‘Artificial intelligence is no longer a niche phenomenon and I think it will grow more and in the years to come’.
(adapted from the homonym article in The Diplomat, vol 15, Q1, 2019)