How Artificial Intelligence Is Revolutionizing Business
Boston Consulting Group and MIT Sloan Management Review researched, Reshaping Business With Artificial Intelligence. The research found significant gaps between companies who have already adopted and understand Artificial Intelligence (AI) and those lagging. AI early adopters invest heavily in analytics expertise and ensuring the quality of algorithms and data can scale across their enterprise-wide information and knowledge needs. The leading companies who excel at using AI to plan new businesses and streamline existing processes all have solid senior management support for each AI initiative.
- 84% of respondents say AI will enable them to obtain or sustain a competitive advantage.
- 83% believe AI is a strategic priority for their businesses today.
- 75% state that AI will allow them to move into new businesses and ventures.
The research shows that AI will be the catalyst of entirely new business models and change the competitive landscape of entire industries in the next five years.
Do you agree with this? Should AI be adopted into more companies? What are some ways AI can benefit a company?