Analytics Insight conducted a survey “The Global AI Trends 2020” to know the worldwide adoption of AI (AI) amongst enterprises and recognize the business perceptions of AI across sectors.
Analytics Insight reached bent 2,200 professionals online located in several geographic regions across a good range of industries to explore different views toward AI and its current implications among enterprises. Receiving 256 responses for the survey, Analytics Insight articulated an in depth report, which may be indicative of the market as an entire .
Out of the 256 respondents, 48.5% were performing at small-scale companies with the corporate size of fewer than 100 employees. About 29.8% of the respondents were employed at companies which had total employees starting from 100-1000, while 21.7% of respondents had a corporation size of over 1000 employees.
The majority of AI technologies with 34.3% of total usage are leveraged within the Research and Development initiatives, followed by Finance at 18.2% and IT Management at 12%. The study further unravels that Customer Service is facilitating 9.5% of AI technologies. this is often followed closely by HR, 8.9%; Sales and Marketing, at 8.3%, and Manufacturing and Operations accounting to five .8%.
According to the survey, the High Tech industry is leading the adoption of AI with a 37% share, followed by Professional Services at 18.2% and Financial Services accounting for 16.6%. The survey further finds that the Retail Industry uses AI across multiple areas of business, contributing to the adoption rate of 9.1%. Next up after Retail is Healthcare and Pharma contributing 8%, about 4.8% from Consumer-Packaged Goods, 2.8% from Telecom, 2.3% from Automotive and Assembly, 0.8% from Infrastructure and 0.4% from Travel, Transport, and Logistics.
While organizations across all sectors and industries embraced AI to ease the human workforce and make the services more efficient, it still has some significant constraints to be deployed. to know the challenges of adopting this technology, Analytics Insight engaged respondents within the primary challenges of organizations for AI adoption.
Analytics Insight observed earlier that AI is being readily adopted by organizations across all sectors and industries. To further understand the sort of technology that organizations are getting to deploy, Analytics Insight asked respondents about the first interest of organizations for AI adoption.
Almost 34.1% of survey respondents indicated Predictive Analytics to be the priority, whereas 24.5% of respondents prioritized General AI Implementation in their organization. Almost 18.3% of respondents feel Process Automation are going to be the first step in digital transformation, whereas Hyper-personalization is that the priority amongst 7.8% of survey respondents.
The objective of the survey was to know which businesses are embracing AI technologies, how willing and cozy organizations are with AI technologies, making in-roads into their workplaces, and therefore the challenges they face in implementing AI among their organizations.
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Around 31.1% of respondents indicate that the most important challenge a corporation faces regarding AI adoption is restricted AI Skills. as compared , nearly 27.7% of respondents feel that Data Quantity or Quality may be a major concern.
Almost 22.7% of companies hesitate to adopt AI because it’s a High-Cost Technology. Wherein 8.3% of vendors have felt Confused AI Ecosystem, 2.6% of respondents feel Non-AI Approaches are Sufficient. The survey also reveals that 1.7% of companies are faraway from digitization thanks to Regulatory or Security Issues, and 5.9% don’t have an Incomplete Understanding of AI.