A recent report on what it takes to be an Intelligent Enterprise discerned this disparity and the reasons behind this gap.
Enterprises of the future will be built on a foundation of Artificial Intelligence, Analytics, Machine Learning, Deep Learning and Automation—technologies central to solving business problems and driving innovation.
In a recent report by global IT, consulting and business process services company Wipro Limited, most businesses considered AI to be critical for improving operational efficiency, relieving humans of manual tasks, and enhancing the employee and customer experience.
The report, based on a survey of 300 respondents in UK and US across key industry sectors such as financial services, healthcare, technology, manufacturing, retail and consumer goods, asserts that while collecting data is critical, the ability to combine this with a host of technologies to leverage insights creates an Intelligent Enterprise.
According the report, organizations that fast-track adoption of intelligent processes and technologies stand to gain an immediate competitive advantage over their counterparts. Further findings of note include:
- While 80% of organizations recognized the importance of being intelligent, only 17% would classify their organizations as an Intelligent Enterprise.
- 98% of respondents believed that being an Intelligent Enterprise yields benefits to organizations: improved customer experience, faster business decisions and increased organizational agility.
- 91% of organizations felt there were data barriers towards being an Intelligent Enterprise, with security, quality and seamless integration being of utmost concern.
- 95% of business leaders surveyed saw AI as critical to intelligent enterprises, yet, currently, only 17% can leverage AI across the entire organization.
- 74% of organizations considered investments in technology as the most likely enabler for an intelligent enterprise. However, 42% of them thought that this must be complemented with efforts to re-skill the workforce.
Wipro’s Vice President & Head (Data, Analytics & AI) Jayant Prabhu said: “Organizations now need new capabilities to navigate the current challenges. The report amplifies the opportunity to gain a first-mover advantage to being Intelligent. The ability to take productive decisions depends on an organization’s ability to generate accurate, fast and actionable intelligence. Successful organizations are those that quickly adapt to the new technology landscape to transform into an Intelligent Enterprise.”