Third of Companies adopt AI in Past Year

Third of Companies adopt AI in Past Year
19.06.2019 12:58 pm

Third of Companies adopt AI in Past Year

Artificial Intelligence

More than a third of companies have adopted some form of AI in the past year, according to an MHR Analytics poll.

The poll revealed 38 per cent of companies have made the leap to AI or machine learning by adding the technology to their analytics approach in the past 12 months.

Almost a fifth (19 per cent) of the 500 professionals polled on Twitter said their company had made ‘significant’ progress with adopting AI, and a further 19 per cent said their company had ‘steadily’ been adding the technology to their analytics strategy.

“We are now seeing a clear shift in focus in the way companies operate their analytics, with AI capabilities like NLP (natural language processing), machine learning and conversational analytics becoming a reality,” said MHR Analytics’ SVP Nick Felton.

“With widespread awareness about advances in AI, we wanted to explore current levels of actual uptake as we approach the next decade. It’s unsurprising that a significant number of organisations have this year stepped up and begun to invest in AI or machine learning of some kind,” he said.

“Businesses are now well aware of the need to adopt this technology and the advantages it can bring to them, such as increased efficiency, revenue growth, customer experience and overall reductions in operational costs, not to mention the control and stability it can offer in an unpredictable business climate. More and more technology leaders and analytics teams are not waiting any longer to invest in AI as they know that these technologies can empower them to succeed.”

“Our poll also showed that a large proportion – 62 per cent – are still not investing in AI at all which mirrors what we have heard from a number of our 750 customers over the past year. Despite awareness of the benefits, the majority of organisations still perceive challenges to embarking on the data journey, from ‘operational’ or manual-based analytics, to automated analytics. We launched our data maturity quiz earlier this year, as a diagnostic tool to help companies understand how to overcome those challenges and take the first simple steps to implementing more sophisticated and effective analytics systems.”

Related News

FICO Partners with OpenWrks to Deliver Affordability Assessments

Global analytics and decision management provider FICO has partnered with OpenWrks – a leading provider of Open Banking... Read more »

Acronis enters official AI partnership with A.S. Roma

Acronis, a global leader in cyber protection, today announced the official... Read more »

Findr launches AI matching platform to help fintechs grow safely during lockdown

Findr has launched operations in London with the vision of becoming the leading global technology platform for... Read more »

DriveWealth brings U.S. stock investing capability to India-based AI wealth management firm

DriveWealth, LLC, a U.S. based leader in global digital trading technology,... Read more »

NetSuite implementation specialist Threadgold Consulting brings Sidetrade's AI tech to SMEs

Sidetrade, (Euronext Growth: ALBFR.PA) the B2B Artificial Intelligence platform, is proud to extend the value of their AI platform, leveraging a new partnership with Threadgold... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel