{"id":6831,"date":"2019-02-19T11:20:46","date_gmt":"2019-02-19T11:20:46","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=6831"},"modified":"2019-02-19T11:20:46","modified_gmt":"2019-02-19T11:20:46","slug":"companies-put-artificial-intelligence-on-fast-track-says-new-survey","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/","title":{"rendered":"Companies Put Artificial Intelligence on Fast Track, Says New Survey"},"content":{"rendered":"
\"Companies
Companies Put Artificial Intelligence on Fast Track, Says New Survey<\/figcaption><\/figure>\n

A new global study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue, productivity, profitability and shareholder value for businesses within two years. Overall, only 16 percent of business leaders surveyed perceive they are currently garnering significant value from advanced AI. However, AI programs are being fast-tracked and that number is expected to more than triple to 52 percent within the next two years. This is according to a new report, \u201cCompeting in the Cognitive Age: How companies will transform their businesses and drive value through advanced AI<\/a>,\u201d by global consulting firm Protiviti in collaboration with ESI ThoughtLab.<\/p>\n

To understand how companies will transform their businesses through applications of advanced AI technologies and the benefits they expect to gain, Protiviti and ESI ThoughtLab conducted a global survey of 300 senior executives across functions, industries and company sizes in the third quarter of 2018. The study found that nearly one third of all respondents perceive their organization\u2019s use of advanced AI is ahead of their competitors, and 92 percent of those respondents expect to see high\/very high value from AI in two years.<\/p>\n

This follows already heavy investments in the technology \u2013 Protiviti found that, on average, surveyed companies spent $36 million each on AI in their last fiscal year, and they expect this average to grow eight percent over the next two years.<\/p>\n

\u201cAI is not solely the domain of \u2018born digital\u2019 companies; it\u2019s for all organizations,\u201d<\/em> said Madhumita Bhattacharyya, a managing director in Protiviti\u2019s Technology Consulting practice. \u201cExecutives are realizing that adoption and significant investment are required to maintain competitiveness in the market. With access to increased data from multiple touch points and powerful computing technologies, identifying the right applications that are relevant and aligned to the business goals is the equation that companies are trying to solve.\u201d<\/em><\/p>\n

\"Industries
Industries and AI investment. Source: Protiviti<\/figcaption><\/figure>\n

Asia-Pacific & the Technology Industry Report the Most Value from AI<\/h2>\n

Protiviti evaluated the survey data by company, region, industry segment and size to discover which vertical industry segments are gaining the greatest benefits from AI today. Asia-Pacific companies are leading the way in driving business improvements with AI technology, with 35 percent reporting that advanced AI is currently providing \u2018significant value\u2019 to their business, compared to 14 percent of companies in North America and 7 percent of companies in EMEA.<\/p>\n

According to the survey, technology companies are leading the way with 28 percent observing significant value today, followed by the healthcare industry (15 percent), financial services (12 percent) and consumer products (9 percent).<\/p>\n

Obstacles Identified<\/h2>\n

Despite some notable progress in deploying advanced AI, the report outlines several crucial challenges that many companies continue to face. The top five challenges, according to the survey, are:<\/p>\n

    \n
  1. Uncertain ROI<\/li>\n
  2. Cybersecurity\/data privacy<\/li>\n
  3. Deciding on best applications<\/li>\n
  4. Regulatory constraints<\/li>\n
  5. Limited AI skills\/talent<\/li>\n<\/ol>\n

    The Promise of AI<\/h2>\n

    As detailed in the Protiviti report, the most successful AI programs address these challenges by providing decision-makers with compelling proofs of concept and well-planned pilots \u2013 that can potentially be scaled to other parts of the organization later \u2013 and by creating in-house AI development programs to train their existing workforce.<\/p>\n

    \u201cWe find that companies tend to focus on the technology rather than the business outcomes when it comes to adopting AI and machine learning,\u201d<\/em> said Ron Lefferts, a Protiviti managing director and leader of the firm\u2019s global Technology Consulting practice. \u201cAn organization\u2019s leaders need to start with a very clear picture of the business problem they want advanced AI to help solve.\u201d<\/em><\/p>\n

    \u201cThere is more data collected today than any one person could possibly analyze, but by using AI we can analyze large volumes of data to find patterns or improve operations. This analysis provides us with greater insights to help guide decision-making and reduce risk. That\u2019s transformative,\u201d<\/em> said Shaheen Dil, a senior managing director with Protiviti.<\/p>\n","protected":false},"excerpt":{"rendered":"

    A new global study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue, productivity, profitability and shareholder value for businesses within two years. Overall, only 16 percent of business leaders surveyed perceive they are currently garnering significant value from advanced AI. However, AI programs are […]<\/p>\n","protected":false},"author":7,"featured_media":6832,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[4563],"tags":[4337,4810],"acf":[],"yoast_head":"\nCompanies Put Artificial Intelligence on Fast Track, Says New Survey - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Companies Put Artificial Intelligence on Fast Track, Says New Survey\" \/>\n<meta property=\"og:description\" content=\"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-19T11:20:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/AI-investment.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"629\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"Companies Put Artificial Intelligence on Fast Track, Says New Survey\",\"datePublished\":\"2019-02-19T11:20:46+00:00\",\"dateModified\":\"2019-02-19T11:20:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\"},\"wordCount\":672,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"keywords\":[\"AI\",\"Survey\"],\"articleSection\":[\"Open Innovation\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\",\"url\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\",\"name\":\"Companies Put Artificial Intelligence on Fast Track, Says New Survey - OpenBusinessCouncil Directory\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/#website\"},\"datePublished\":\"2019-02-19T11:20:46+00:00\",\"dateModified\":\"2019-02-19T11:20:46+00:00\",\"description\":\"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years\",\"breadcrumb\":{\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.footballthink.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Companies Put Artificial Intelligence on Fast Track, Says New Survey\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.footballthink.com\/#website\",\"url\":\"https:\/\/www.footballthink.com\/\",\"name\":\"OpenBusinessCouncil Directory\",\"description\":\"Openbusinesscouncil\",\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.footballthink.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Organization\",\"Place\"],\"@id\":\"https:\/\/www.footballthink.com\/#organization\",\"name\":\"openbusinesscounsil\",\"url\":\"https:\/\/www.footballthink.com\/\",\"sameAs\":[],\"logo\":{\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo\"},\"image\":{\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo\"},\"openingHoursSpecification\":[{\"@type\":\"OpeningHoursSpecification\",\"dayOfWeek\":[\"Monday\",\"Tuesday\",\"Wednesday\",\"Thursday\",\"Friday\",\"Saturday\",\"Sunday\"],\"opens\":\"09:00\",\"closes\":\"17:00\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\",\"name\":\"Hernaldo Turrillo\",\"description\":\"Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.\",\"url\":\"https:\/\/www.footballthink.com\/author\/hturrillo\/\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo\",\"url\":\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/04\/logo_big.png\",\"contentUrl\":\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/04\/logo_big.png\",\"width\":1161,\"height\":250,\"caption\":\"openbusinesscounsil\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Companies Put Artificial Intelligence on Fast Track, Says New Survey - OpenBusinessCouncil Directory","description":"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/","og_locale":"en_US","og_type":"article","og_title":"Companies Put Artificial Intelligence on Fast Track, Says New Survey","og_description":"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years","og_url":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/","og_site_name":"OpenBusinessCouncil Directory","article_published_time":"2019-02-19T11:20:46+00:00","og_image":[{"width":1200,"height":629,"url":"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/AI-investment.png","type":"image\/png"}],"author":"Hernaldo Turrillo","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Hernaldo Turrillo","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#article","isPartOf":{"@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/"},"author":{"name":"Hernaldo Turrillo","@id":"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23"},"headline":"Companies Put Artificial Intelligence on Fast Track, Says New Survey","datePublished":"2019-02-19T11:20:46+00:00","dateModified":"2019-02-19T11:20:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/"},"wordCount":672,"commentCount":0,"publisher":{"@id":"https:\/\/www.footballthink.com\/#organization"},"keywords":["AI","Survey"],"articleSection":["Open Innovation"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/","url":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/","name":"Companies Put Artificial Intelligence on Fast Track, Says New Survey - OpenBusinessCouncil Directory","isPartOf":{"@id":"https:\/\/www.footballthink.com\/#website"},"datePublished":"2019-02-19T11:20:46+00:00","dateModified":"2019-02-19T11:20:46+00:00","description":"A study finds that while the use of artificial intelligence (AI) is low today, it is expected to create increased revenue and productivity within two years","breadcrumb":{"@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.footballthink.com\/"},{"@type":"ListItem","position":2,"name":"Companies Put Artificial Intelligence on Fast Track, Says New Survey"}]},{"@type":"WebSite","@id":"https:\/\/www.footballthink.com\/#website","url":"https:\/\/www.footballthink.com\/","name":"OpenBusinessCouncil Directory","description":"Openbusinesscouncil","publisher":{"@id":"https:\/\/www.footballthink.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.footballthink.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":["Organization","Place"],"@id":"https:\/\/www.footballthink.com\/#organization","name":"openbusinesscounsil","url":"https:\/\/www.footballthink.com\/","sameAs":[],"logo":{"@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo"},"image":{"@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo"},"openingHoursSpecification":[{"@type":"OpeningHoursSpecification","dayOfWeek":["Monday","Tuesday","Wednesday","Thursday","Friday","Saturday","Sunday"],"opens":"09:00","closes":"17:00"}]},{"@type":"Person","@id":"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23","name":"Hernaldo Turrillo","description":"Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.","url":"https:\/\/www.footballthink.com\/author\/hturrillo\/"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.footballthink.com\/companies-put-artificial-intelligence-on-fast-track-says-new-survey\/#local-main-organization-logo","url":"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/04\/logo_big.png","contentUrl":"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/04\/logo_big.png","width":1161,"height":250,"caption":"openbusinesscounsil"}]}},"_links":{"self":[{"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/posts\/6831"}],"collection":[{"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/comments?post=6831"}],"version-history":[{"count":0,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/posts\/6831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/media\/6832"}],"wp:attachment":[{"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/media?parent=6831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/categories?post=6831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.footballthink.com\/wp-json\/wp\/v2\/tags?post=6831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}