Report: Business Use of Artificial Intelligence Posting Limited Gains

Published On: June 17, 2019Categories: Buzz, Uncategorized

Opportunities for businesses to improve internal processes and enhance customer experiences through the use of artificial intelligence have been slow to take hold due to confusion about the technology, according to a new report from CompTIA, a technology trade association based in suburban Chicago.

According to the association’s “Emerging Business Opportunities in AI” report, 29 percent of surveyed companies are making regular use of artificial intelligence, compared to 24 percent measured through the same survey two years ago.

“Artificial intelligence represents a new way of thinking about software,” said Seth Robinson, senior director of technology analysis at CompTIA. “We’re no longer asking computers to produce a defined result every time, but to produce an undefined result based on general rules. Understanding this difference can be challenging, especially when most businesses are not actively developing their own AI algorithms.”

Only 19 percent of companies say that they have expert knowledge around AI, while another 29 percent classify their knowledge as moderately high.

One inhibiting factor appears to be the institution of strong practices around the management of data. Just 18 percent of companies say they are exactly where they want to be with regard to their data practices.

Asked to identify potential uses for AI, companies focused on improving workflows (52 percent of respondents), analyzing large datasets (51 percent), enhancing the customer experience (48 percent) and in security monitoring and detection (47 percent).

The desire for cost reduction leads the list of anticipated benefits, but Robinson believes this approach fails to reflect the true payoff of AI.

“AI can help with cost savings, but the greater potential lies in opening new doors,” he said. “Companies that are approaching AI as an IT activity should consider its far-reaching implications and move towards a more collaborative model. AI is a topic that should involve the entire organization.”

CompTIA’s “Emerging Business Opportunities in AI” report is based on an online survey of 500 U.S. business and technology professionals conducted in March and April 2019.

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