AI is entering into a new chapter by increase in its adoption through advance technology, easier development, faster implementation, and tangible benefits from adoption. The pace of AI application is clearly accelerating as companies begin to leverage it to increase profitability and achieve scale. AI has been deployed across a wide spectrum of use cases to solve business problems—from managing and automating IT infrastructure, to get new insights about business, to identifying and responding to cyber threats, to helping guide medical decisions, to improving the hiring process. AI is increasingly being integrated into the fabric of the business.
When done right, AI has proven to provide real benefits including:
However, success has been far from easy. According to a McKinsey Survey, only 55 percent of AI adopters believe their program has been successful to date. Moreover, a little over half of the respondents also say that the program has been much harder to implement than they expected. Many AI adopters struggle with the following challenges.
AI adopted right, reaps multiple benefits for an organization. Artificial Intelligence can create value in an enterprise in four ways:
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