Global enterprise application firm IFS has released data from a study showing that business leaders are eager to invest in artificial intelligence (AI).
The study polled 600 business leaders as well as a broad spectrum of industries which support those leaders as regards to their technology needs.
Of note from that data is the interest in AI where 90 percent of respondents say that they have plans to implement AI in various parts of their business.
The most popular area for implementation of AI is in industrial automation with 44.6 percent of respondents saying they are planning AI projects in this area. Customer relationship management, and inventory planning and logistics were both tied in second with 38.9 percent of respondents planning projects that use AI.
“AI is no longer an emerging technology. It is being implemented to support business automation in the here and now, as this study clearly proves,” vice president of AI and robotic process automation at IFS, Bob De Caux said in a statement.
What is surprising to learn is that 60.6 percent of those respondents said that they expected AI to help existing workers be more productive. Worryingly, 18.1 percent said they would use AI to replace workers.
This is, unfortunately, a reality of AI – folks will lose jobs as AI takes over jobs currently done by humans. Respondents in the IFS survey suggest society should change educational programmes to prepare folks for a world where AI is ubiquitous.
Despite this, the time to start capitalising on AI is now says IFS.
“Falling for the hype of AI is easy, but success requires disruption to existing business models. The technologies themselves are not a panacea, nor are they a universal solution to any problem. However, with the right data model and viable use cases, AI can support improved productivity and deliver significant benefits to both operations and the wider business. AI will be used by the vast majority of organisations in some form in the near future, extracting real value from intelligent processes, for the long-term,” De Caux concluded.[Image – CC 0 Unsplash]