87% Organisations Consider AI Vital To Business Survival: Survey

New survey has found that 87 per cent of organisations today consider artificilal intelligence (AI) to be vital for their business survival. 

An online survey of 550 senior IT and data science professionals across the US, UK, Ireland, France and Germany has found that 87 per cent of organisations feel that AI is important for their business to survive. 

The survey revealed 86 per cent believe they would struggle to fully trust AI to make all business decisions without human intervention. But organisations are planning to invest 13 per cent of their global annual revenue into AI within the next three to five years – compared to the eight per cent being invested today.

When it comes to AI adoption, 90 per cent of the respondents in the Vanson Bourne survey reported that organisations continue to rely on manual data processes and only 14 per cent of organisations consider their AI maturity “advanced”. 

“The prevalence of low-quality, siloed and stale data means that data scientists, employed by all large organisations surveyed, dedicate less than a third of their time to building AI models, spending the rest of it on tasks outside of their job role”, stated the survey.

As a result, 87 per cent agree that data scientists within their organisation are not being utilised to their full potential. Yet, recruitment is cited (by 39 per cent) as the biggest barrier to AI adoption, highlighting the responsibility of organisations to urgently empower the talent they already have.