Go-slow on AI
The gap between artificial intelligence ambition and execution is large at most companies. While three-quarters of execs globally believe AI will enable their companies to move into new businesses, and close to 85% think the technology will allow them to grab or sustain a competitive advantage, a mere only one in five companies has actually slotted AI to some offerings or processes. That’s according to the Reshaping Business With Artificial Intelligence report from MIT Sloan and BCG.
Also, fewer than 40% of all companies have any kind of AI strategy in place. Unsurprisingly, the largest companies — those with at least 100,000 employees — are the most likely to have an AI strategy, but only half of these corporates have one.
Expectations of AI’s effects on companies’ offerings are consistently high across industry sectors. Within the technology, media, and telecommunications industry, 72% of respondents assume there will be large effects from AI in five years. Also in the public sector, over 40% of respondents expect significant impacts within five years. This bullishness is apparent regardless of the size or geography of the organisation.
On the jobs front, most executives surveyed do not expect that artificial intelligence will lead to staff reductions at their organisation within the next five years. Rather, they hope that AI will take over some of their more boring and unpleasant current tasks.
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Image: Steve Mullins