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Only 6% of companies have adopted AI, study finds

AI in Business

A new survey conducted by Juniper Networks involving over 700 C-suite executives and IT decision-makers found that about 95% respondents are convinced about the benefits they could derive through adoption of artificial intelligence. However, in contrast to the response, at present, only 6% of the respondents are using AI-powered solutions in their businesses.

AI in Business

In spite of the potential of artificial and the enthusiasm for its adoption, most businesses still face roadblock when it comes to adapting AI to their production processes. Although there has been remarkable increase in AI adoption, the problem still remains because adoption of artificial intelligence is not always synonymous with success. More than 25% of the businesses have experienced some kind of failure in AI adoption, which acts as a rather huge roadblock that stops organizations from using AI to the fullest.

The Juniper survey reveals that the major challenges around artificial intelligence is concerned with ingesting of data, as well as its processing and management. The survey throws light on data issues which is the major reason that leads to the failure of successful AI deployment. A major chunk of the data scientists’ time is consumed by the cleaning and organization of data. This is in addition to the issue of biases in data which can lead to results that are rather discriminatory and can cause major business complications.

AI and The Human Workforce

Majority of the respondents in the survey pointed out the difficulty they face in workforce expansion to facilitate the integration with AI. Particularly, when faced with a tough choice, most of the C-level executives prioritize the human workforce over artificial intelligence.

The significant gap in talent is a major barrier for organizations. The predicament concerning hiring people with the right skillset and knowledge wealth to operate machines that often possess sophisticated characteristics is a major reason why organizations shy away from deploying artificial intelligence in their business processes. Although there are adequate number of researchers who are engaged in the development and study of AI, it is hard to find those who are well-versed in the technology and in possession of in-depth knowledge that can convert the theory into practice. In short, crossing over to application from research is a rather hard process.

AI and Ethical Concerns

Despite the constant emphasis on responsible AI in order to reduce the negative impacts, particularly on the privacy and security of the customers, most businesses fail to prioritize the adoption of responsible AI. The fact that the ethical concerns come as the last of the priorities is a contributing factor that can slow down the business success through AI adoption. This is due to the fact that customers value and reward those organizations that are in line with the ethics of artificial intelligence since it is a strong proof that they prioritize customer safety.

In short, it goes without question that artificial intelligence is advantageous for businesses. However, in order to touch the finish line of success, businesses have to be prudent and wise.

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