AI or artificial intelligence use and applications are growing at an accelerated rate!
Our global competitors such as Russia and China will soon pass us in artificial intelligence proficiency if we do not continue to advance. For example, Russia has made weaponizing AI for military purposes a priority!
With ONLY 194,000 new jobs (the smallest employment gain since December 2020) reported by the most recent Labor Department’s BLS statistics, a lot more high paying employment can be created as a result of artificial intelligence! This also applies to robotics as artificial intelligence becomes more and more critical to future robot engineering!
Recent Survey Demonstrates AI Adoption | Analytics Rising
Artificial intelligence investments have been boosted by the need for enterprise digital transformation during the pandemic. Last year, AI startups raised a collective $73.4 billion in Q4 2020, a $15 billion year-over-year increase. And according to a new survey from ManageEngine, the IT division of Zoho, business deployment of AI is on the rise.
1,200 technology execs were surveyed at numerous organizations that were considering using AI and analytics. 80% of respondents in the U.S. said that they’d accelerated their AI adoption over the past two years. Moreover, 20% said they’d boosted their usage of business analytics compared with the global average, a potential sign that trust in AI is growing.
“The COVID-19 pandemic forced businesses to adopt — and adapt to — new digital technologies overnight,” ManageEngine VP Rajesh Ganesan, a coauthor of the survey, said in a press release. “These findings indicate that, as a result, organizations and their leaders have recognized the value of these technologies and have embraced the promises they are offering even amidst global business challenges.”
Artificial Intelligence Applications Are Expanding
ManageEngine’s survey uncovered that the dominant motivation behind business analytics technologies is data-driven decision-making. Seventy-seven percent of respondents said that they’re using business analytics for augmented decision making while 69% said they’d improved the use of available data with business analytics. Sixty-five percent said that business analytics helps them make decisions faster, furthermore, reflecting an increased confidence in AI.
Executives responding to the survey also emphasized the importance of customer experience in their AI adoption decisions, with 59% in the U.S. saying that they’re leveraging AI to enhance customer services. Beyond customer experience, 61% of IT teams saw an uptick in applying business analytics, while marketing leaders saw a 44% surge; R&D teams saw 39%; software development and finance saw 38%; sales saw 37%; and operations saw 35%.
HR was among the groups that showed the lowest increase in business analytics usage, according to the survey. Research shows that companies are indeed struggling to apply data strategies to their HR operations. A Deloitte report found that more than 80% of HR professionals score themselves low in their ability to analyze, a troubling fact in a highly data-driven field.
Still, Ganesan said that the report’s findings reinforce the notion that AI is a critical business enabler — particularly when combined with cloud solutions that can support remote workers. “Increased reliance on AI and business analytics is fueling data-driven decisions to operate the organization more efficiently and make customers happier,” he continued.
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