Three-quarters of C-level executives believe if they don’t move beyond AI experimentation to aggressively deploy artificial intelligence across their organizations they risk going out of business by 2025, according to a newly released study from Accenture.
The report, titled “AI: Built to Scale” and produced by Accenture Strategy and Accenture Applied Intelligence, is based on a global survey of 1,500 C-level executives across 16 industries designed to understand how companies are implementing AI across their organizations.
The research found 84% of C-level executives believe they won’t achieve their business strategy without scaling AI, yet only 16% have made the shift from mere experimentation to creating an organization powered by robust AI capabilities.
As a result, this small group of top performers is achieving nearly three times the return from AI investments as their lower-performing counterparts, says Accenture.
The report reveals common success factors:
- a strong data foundation; multiple dedicated AI teams; and a C-suite-led commitment to strategic, organization-wide AI deployment
- a deep commitment by scaling AI at a much higher rate
“It’s clear that companies of all sizes, and across all industries, know they need to scale AI not just to grow, but to merely stay relevant today,” said Athena Reilly, a managing director in Accenture Strategy.
“However, the vast majority are still struggling with how to do it successfully, in a way that will generate the most ROI and bolster competitive agility. What we’ve seen with our clients is that it has to start with the basics: the right data, the right strategy and the right people.”
According to the report, nearly all companies (95%) agree on the importance of data as the foundation to scaling AI, but the top performers are more intentional and focused on ensuring that the right, relevant data assets are in place to underpin their AI efforts.
AI experimentation: if your business isn’t doing it yet, consider it a necessity now.
To find out more about the report, visit www.accenture.com/AIBuiltToScale.