Those organisations which are most prepared to innovate with AI are the likeliest to succeed with their overall transformational aims, a leading AI think tank has reported.
The Deloitte AI Institute has released its latest ‘State of AI in the Enterprise’ survey, exploring what is happening within organizations that are using AI to drive value. The report’s authors say their aim was to understand what AI-fueled organizations are doing to drive success. They discovered that successful organizations tend to be those that leverage data as an asset to deploy and scale AI systematically across all types of core business processes.
By surveying 2,875 executives from 11 countries across the Americas, Europe and Asia, the report identifies the leading practices among various marketplace leaders across industries. Deloitte said it hopes the report will help companies overcome challenges in becoming an AI-fueled organization, no matter what stage of AI transformation they are in.
To assess AI maturity, Deloitte grouped responding organizations into four profiles based on how many types of AI applications they have deployed full-scale and the number of outcomes achieved to a high degree.
Twenty-eight percent (28%) of survey respondents are Transformers who report high outcomes and a high number of AI deployments. This group has identified and largely adopted leading practices associated with the strongest AI outcomes.
Twenty-six percent (26%) of respondents are Pathseekers, reporting high outcomes, but a low number of deployments. Pathseekers have adopted capabilities and behaviors that are leading to success, but on fewer initiatives and they have not scaled to the same degree as Transformers.
Underachievers made up 17% of respondents, reporting low outcomes and a high number of deployments. While these organizations have a significant amount of AI deployment activity, they haven’t adopted enough leading practices to help them effectively achieve meaningful outcomes.
Starters accounted for 29% of survey respondents, reporting low outcomes and a low number of deployments. These organizations have had a late start in building AI capabilities and are the least likely to demonstrate leading practice behaviors.
“By embracing AI strategically and challenging orthodoxies, organizations can define a roadmap for adoption, quality delivery and scale to create or unlock value faster than ever before,” said Nitin Mittal, Deloitte AI co-leader, and principal, Deloitte Consulting LLP.
“The risks associated with AI remain top of mind for executives. We found that high-achieving organizations report being more prepared to manage risks associated with AI and confident that they can deploy AI initiatives in a trustworthy way,” added Irfan Saif, Deloitte AI co-leader, and principal, Deloitte & Touche LLP.
Earlier this year, Deloitte discovered that financial service organizations are increasingly embracing AI to streamline their operations and reduce costs. It found that 70% of all financial services firms are deploying machine learning to predict cash flow events, fine-tune credit scores, and detect fraud.