Highlight:

  • Above 61% of respondents believe that AI will significantly transform their industry in the coming years.

As per the survey conducted by Deloitte, above 53% of organizations using artificial intelligence (AI) have spent a huge amount above USD 20 million in the last year on talent and enhancing technology.

“The State of AI in the Enterprise” survey was conducted by approximately 2,737 IT and line of business executives. These executives highlighted the importance of AI technology in businesses to boost productivity. Deloitte’s respondent base includes above 47% skilled adopters, above 26% seasoned adopters, and above 27% starters. The respondents were grouped based on AI implementation and systems introduced into production.

The survey was conducted between October and December 2019. The survey includes data of enterprises adopting AI technology. The early adopters of AI need to work harder to maintain an edge over their industry peers. Further, survey data estimates that enterprises at the top will be those using AI to chase novel and creative applications, actively addressing intrinsic AI risks, and adopting more AI-powered technologies to become smarter consumers of AI.

As per the report presented by Deloitte, above 68% among the seasoned adopters spent approximately USD 20 million in the last year. Also, above 81% of seasoned adopters have reported return on investment in less than two years.

Deloitte said, for the AI technology portfolio, above 54% of respondents are using deep learning, above 58% are using natural language processing, and above 67% are using machine learning (ML).

The AI adopters see more effective processes as a primary justification for deployments with enhancing decision making as a major goal. AI adopters are concentrating on buying more technology instead of building it. However, 47% of plaintiffs said that they have skill selection suppliers.

Other major findings by Deloitte include:

  • Above 95% of respondents were worried regarding the ethical risks of using AI.
  • Above 93% are using cloud-based AI technology, with approximately 78% using open source AI.
  • However, above 62% of plaintiffs said AI technologies must be closely controlled.
  • Above 62% of respondents said they have primary concerns regarding cybersecurity vulnerabilities along with AI. The use of personal data without permission, failure of a business, and changing regulations were also leading worries among respondents.
  • Above 61% believed that AI will help their organization to gain maximum revenue per year and substantially transform their industries.
  • Above 45% said they have a high level of expertise around incorporating AI technology into their current IT environment.
  • Approximately 47% of all AI technology adopters say that they have a high level of talent around choosing AI and technology suppliers.
  • Approximately 57% of AI adopters have “extreme” or “major” concerns regarding how new and altering policies could impact their AI initiatives.

The key beneficiaries of AI success are information technology (IT) departments. Adopters believe that AI is a major technology need in order to lead today and in the future.

Irfan Saif, Principal and AI Co-leader, Deloitte & Touche LLP, said, “As organizations become more invested in AI, they must have a common framework, principles, and practices for the board, C-suite, enterprise and third-party ecosystem to proactively manage AI risks and build trust with both their business and customers.”

About Deloitte AI institute

The institute’s mission is to support AI growth through innovative research and engaging conversations. Also, it focuses on advancing human-machine collaboration in the “Age of With,” a world where humans work along with machines.