A survey of 3,000 executives reveals how businesses succeed with AI

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Total investment (internal and external) in AI reached somewhere in the range of $26 billion to $39 billion in 2016, with external investment tripling since 2013. Despite this level of investment, however, AI adoption is in its infancy, with just 20% of our survey respondents using one or more AI technologies at scale or in a core part of their business, and only half of those using three or more. (Our results are weighted to reflect the relative economic importance of firms of different sizes. We include five categories of AI technology systems: robotics and autonomous vehicles, computer vision, language, virtual agents, and machine learning.)

Without support from leadership, your AI transformation might not succeed. Successful AI adopters have strong executive leadership support for the new technology. Survey respondents from firms that have successfully deployed an AI technology at scale tend to rate C-suite support as being nearly twice as high as those companies that have not adopted any AI technology. They add that strong support comes not only from the CEO and IT executives but also from all other C-level officers and the board of directors.

The biggest challenges are people and processes. In many cases, the change-management challenges of incorporating AI into employee processes and decision making far outweigh technical AI implementation challenges. As leaders determine the tasks machines should handle, versus those that humans perform, both new and traditional, it will be critical to implement programs that allow for constant reskilling of the workforce. And as AI continues to converge with advanced visualization, collaboration, and design thinking, businesses will need to shift from a primary focus on process efficiency to a focus on decision management effectiveness, which will further require leaders to create a culture of continuous improvement and learning.

Full article: https://hbr.org/2017/08/a-survey-of-3000-executives-reveals-how-businesses-succeed-with-ai

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