Report: 40% of execs say increasing business process efficiency is top benefit of AI

According to a new report from CognitiveScale, 40% of respondents identified increasing business process efficiency as the top benefit to gain from deploying AI, while another 36% of respondents identified improving customer service as the top benefit.

The adoption of artificial intelligence is growing worldwide. The need to boost customer service, employee efficiency, and acceleration of innovation are the three main factors driving an increase in AI adoption.

The survey results also showed that trust is a top priority in AI adoption. This signifies an important shift as organizations are looking to AI solutions to impact business outcomes across all lines of business. As technical decision-makers adopt AI, they should consider the significance of trusted AI systems that ensure the data and models being used are representative of the real world — free of inherent biases that can skew decision-making and reasoning, leading to decision errors and unintended consequences.

When looking at the most indispensable capabilities of artificial intelligence, 34% of respondents listed explainability and trust as the top capability, 25% chose the ability to easily scale, and 24% selected delivering specific or personalized insights. Thirty-one percent of respondents shared that they’re looking to eliminate having too much data with not enough insight through the adoption of AI, and 27% of respondents are looking to automate manual business processes.

The majority of survey respondents (92%) are planning to adopt AI to solve these business challenges within the next 18 months, while 84% are already using artificial intelligence in some capacity.

To gain more insight into what’s really driving AI adoption in the enterprise, CognitiveScale conducted a survey of 700 C-level executives across the United States about where organizations are with their AI journey and how they plan to use it within their organizations.

Read the full report by CognitiveScale.

Source: https://venturebeat.com/2021/11/09/report-40-of-execs-say-increasing-business-process-efficiency-is-top-benefit-of-ai/