Enterprise Adoption of AI Is Reaching Epic Levels, Clearly Reflecting a Common Sentiment of Business Leadership, Globally.
Gartner published its insights on AI after surveying 3,000 executives from 89 countries as part of its 2019 CIO survey. The main deliverable of this survey was that the usage of AI has grown by 270% in the last four years — 37% in 2018 alone propelling the AI market to touch $6.14 billion dollars by 2022.
Here are the findings of the McKinsey Global Institute:
- Labor shifts will be responsible for increasing Gross Domestic Product by 1.2% over the next ten years.
- This trend will also help avail up to 25% in total economic benefits — poised at $13 trillion in the next 10-12 years.
Gartner is crediting the surge to the improved capabilities of AI and their non-negotiable usage in shifting digital strategies. Executives surveyed were hand-picked from enterprises that have $15 trillion dollars in revenue and $284 billion dollars in IT spending.
Gartner’s views are syncing with Deloitte’s second State of the Enterprise compendium (released this fall). A snapshot of Deloitte’s report is presented here:
- Out of the ones surveyed, 42% agreed that AI will be of critical importance in the next two years
- Out of the several AI technologies, Natural Language Processing (NLP) took the top prize with 62% of businesses agreeing to adopt the same
- The second place went to Machine Learning (58 percent)
- The third and fourth place — Computer Vision and Deep Learning with 57 percent and 50 percent respectively
However, executives surveyed in both the reports complain about the severe lack of a skilled workforce that can develop and operate AI technologies.