Artificial intelligence
80 % of companies are already investing
A survey of IT and business decision-makers shows that companies are highly motivated to invest in artificial intelligence - despite considerable difficulties.
For the study on artificial intelligence (AI), the technology market research institute Vanson Bourne surveyed 260 major global companies on behalf of Teradata. The study reveals that 80% of companies are already investing in artificial intelligence. Nevertheless, one in three decision-makers believes that their organization will have to spend more on AI technologies in the next three years if it wants to keep pace with its competitors.
The survey also revealed that companies are optimistic and expect their AI investments to recoup their costs: Companies expect a return on investment (ROI) of 99% for every euro invested today over the next five years and 187% ROI over the next ten years. Due to the expected ROI, there is still plenty of room for further implementations in companies:
- Although 80% of respondents say that AI is already being used productively in their organization, 42% also say that its use in many other areas of the company would also make sense.
- 30% believe that their company is not investing enough and will need to spend more on AI technologies in the next three years to keep pace with its competitors.
- Companies expect AI to offer a long-term perspective and want to double their investment in this technology over the next five years, and even triple it over the next ten years.
"This study reveals an important trend: companies see AI as a strategic priority that will help them outpace the competition in their respective industries," says Atif Kureishy, Vice President, Emerging Practices at Think Big Analytics, a subsidiary of Teradata. "However, to realize the full potential of this technology and achieve maximum return on investment, they need to overhaul their strategy so that AI plays an integral role from the data center to the boardroom."
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