According to Deloitte’s State of AI in the Enterprise, adoption is becoming ubiquitous and the window for AI competitive advantage is narrowing. AI-driven businesses must stay on their toes in order to remain industry leaders.
What are barriers businesses should be wary of? What will it take for businesses to stay ahead of the pack and maintain their competitive advantage?
Here are some key points from the report:
Adopters continue to have confidence in AI technologies’ ability to drive value and advantage. We see increasing levels of AI technology implementation and financial investment. Adopters say they are realizing competitive advantage and expect AI-powered transformation to happen for both their organization and industry.
Early-mover advantage may fade soon. As adoption becomes ubiquitous, AI-powered organizations may have to work harder to maintain an edge over their industry peers. An indicator of a leveling of the playing field: Most adopters expect that AI will soon be integrated into more and more widely available applications.
Virtually all adopters are using AI to improve efficiency; mature adopters are also harnessing the technologies to boost differentiation. Using AI for automation and optimization can provide significant benefits, but organizations should work to move beyond these objectives by leveraging AI to create new products and ways of working.
AI adopters tend to buy more than they build, and they see having the best AI technology as key to competitive advantage. As options for platforms, solutions, and vendors proliferate and improve, becoming more astute consumers of AI technologies will likely become increasingly important for companies. Being able to integrate and scale those technologies, no matter where they come from, should also be critical.
Adopters recognize AI’s risks, but a “preparedness gap” spans strategic, operational, and ethical risks. As usage has grown, so has awareness of the various risks of AI—from unintended bias to determining accountability. What appears to have not grown enough is the adoption of specific actions to help mitigate those risks, even by the most skilled adopters.
Click here to read the full report in detail which includes analysis on:
- What defines a “seasoned” AI adopter?
- The likelihood of pervasive AI
- Process efficiency tops the list of benefits achieved with AI
- Three actions to maintain an AI edge:
- Pursue create approaches
- Become a smarter consumer
- Actively address risks
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