A report finds AI now drives enterprise decision making in several industries, though it suffers from operational challenges.
If there’s doubt about whether artificial intelligence has reached a tipping point in business, a recent report attempts to settle that question.
The recent KPMG report, “Living in an AI World,” says that artificial intelligence (AI) has reached critical mass in enterprises. Two-thirds of respondents, for example, believe that AI is moving at an appropriate pace within their organizations. As a result, the report finds that today, AI drives enterprise decision making on the ground. The report highlights these benefits emerging from AI in the enterprise:
There are “challenges,” the report found, but they are largely functional in nature and involve these areas. One somewhat telling finding is that more than one-half of respondents believe that AI is more hype than reality today.
The report authors believe this suggests there’s still a delta between expectations for AI and real-world experience in implementing the technology.
“Executives underestimate the time and effort required to derive value from AI,” said Sreekar Krishna, principal, innovation and enterprise at KPMG. “Value doesn’t necessarily begin with completion of a production-scale system. It comes from continuing to run the system, and as your processes are transformed.”
The report also noted that there are several key challenges for AI as it becomes more integrated into enterprise operations:
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