Artificial intelligence has gone from being a pipe dream to a necessity for most companies. And it is that, according to the State of AI 5th edition report by Deloitte, 94% of business leaders believe that AI will be essential in their organizations in the next five years. Another thing, yes, is its implementation where there is still a lot of work to be done.
In fact, 79% of respondents say they have achieved large-scale deployment for three or more types of AI applications. This is a figure higher than that of 2021, where said deployment remained at 62%. The type of project where AI is implemented also varies greatly and the challenges you have to face in each company. Demonstrating the business value of AI (37%), lack of executive commitment (29%), and choosing the right AI technologies (33%) are undoubtedly the biggest challenges.
But why does this happen? Why is AI not yet established in all kinds of sectors and companies? The reasons are fundamentally two: 30% admit that they do not have sufficient financing for these artificial intelligence solutions. While 29% believe that there is a lack of technical skills within the team itself. Other problems are the lack of continuous support or the doubts about how to manage the risks related to AI.
The report is clear, “this data underscores the resounding importance of clear leadership and focused investment that a successful AI transformation in business requires (…) much of building an AI-powered organization requires discipline and focus to maintain the systems and algorithms so that they can continue to generate value”.
The current economic context also has an influence on the ability of AI to take root in companies. And although the prospects for this are good, 87% of those surveyed say they are still recovering from the problems of recent years. Among those that stand out, the consequences derived from the pandemic, the lack of supplies or the current increase in the cost of living. However, the report defends “the transformational opportunities that AI can offer and that are being overlooked or ignored.
Among those surveyed, large companies are most optimistic about AI. They claim that it helps them generate more revenue, expand services, access new markets, create new products, programs and services, or even enable new business or service models.
How to improve AI results
Deloitte’s State of AI 5th edition report offers up to four recommendations for business leaders to improve the results of their AI efforts. These are: a greater investment in culture and leadership, where leaders must rely on a change in work methodology to capitalize on the growing optimism and opportunity that exists in AI; the ability of each organization to build and deploy AI ethically and at scale; greater cohesion between technology and talent acquisition, where organizations strategize their AI approaches based on available skill sets; and focus on applying AI to parts of the business where real value is created.
Ultimately, one artificial intelligence with enormous future projection and in which to trust, but where companies must be very clear about how, where and when to apply it to achieve results.