Forward-thinking enterprises that embraced AI technologies long ago might be tempted to rest on their technologically progressive laurels. However, with the latest crop of technological capabilities ripening for use across industries, organizations that once took the lead in AI adoption risk falling behind if their commitment to AI initiatives wanes as challenges arise.
Despite AI’s decades of recognition as a mighty force for enterprise success, many organizations struggle to bridge the divide between adopting AI and realizing the technology’s business value. According to Deloitte’s “State of AI in the Enterprise” Fifth Edition, 94 percent of business leaders surveyed agreed that AI is critical to success over the next five years. However, the portion of respondents who self-identified as “underachievers” and are not seeing the value they expected from their AI initiatives increased to 29 percent over last year. Yet, current trends suggest that AI’s evolution rapidly enables more accessible, relevant applications with the potential for significant impact across industries.
Access to emerging AI technologies is more readily available than ever. For example, McKinsey reported a 94.4-percent increase in training speed for AI models only since 2018. This broader access has been ushered in by new technology developments such as:
IT leaders are finding tremendous opportunities to expand their tech stacks with powerful new technologies. And the express lane to this innovation-driven progress is built upon data analytics and AI-enabled innovations. Therefore forward-thinking organizations across industries and sectors are positioned to take advantage of this new wave of applied AI.
AI is essential to leading-edge capabilities that are gaining momentum to transform industries. The promise these capabilities offer has garnered sufficient confidence that McKinsey Technology Trends Outlook 2022 found that the relative number of patents filed in 2021 was 30 times greater than in 2015.
AI will drive—and benefit from—trending innovations in such areas as:
Given the abundance of emerging technologies AI offers, organizations have good reason to pursue AI initiatives with renewed vigor. However, to use these advanced AI technologies effectively and responsibly, organizations must also address AI explainability and provide continuous learning across workforces. Large enterprises that have embraced such programs for years, and midsize companies that are just beginning their AI journeys, must continue to invest in the knowledge and resources that enable them to use these technologies responsibly and effectively.
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