State of Artificial Intelligence for Enterprises

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Business leaders looking for increased revenue, more efficiency and a better experience for their customers can have all of that — if they adopt artificial intelligence (AI) for their organization. That is the promise of AI that many businesses are actively investing in today.

The hype evident in the commercial sector, from self-driving cars to speech-based personal assistants, is spilling over to the business world. AI is  pivoting from a long-promised business solution to a real-world spark that’s igniting change. Disruption is happening right now, and it’s moving very
fast. But, the big challenge for enterprises is figuring out the best strategy for creating value from today’s AI investments, and recognizing, and avoiding, the landmines along the way.

Through a survey conducted in July 2017 by Vanson Bourne, the Teradata “State of Artificial Intelligence for Enterprises” report captures the here and now for AI — how executive decision-makers are investing in AI today, the expected return on investment (ROI), what barriers lie ahead and how businesses craft a solid game plan to realize AI’s full potential.

Our survey found a healthy dose of enthusiasm for AI, with 80 percent of enterprises reporting they are already investing in some capacity in related technologies and 30 percent planning on expanding their investments over the next 36 months. Businesses expect AI to keep them ahead of the competition in their industry. They are positioning AI so it can create sweeping gains across nearly all of their revenue streams and throughout their business practice areas. In other words, and not surprisingly, businesses are bullish on AI.

 

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