Companies increasingly rely on artificial intelligence to automate crucial tasks. Machines with brains work alongside humans in warehouses, make recommendations about who should get credit, triage patients seeking care, and analyze dizzying quantities of financial data. Lately, corporate boards have begun to worry about the ethical ramifications of turning so much power over to the machines. A study of 2,737 executives released this month by consulting firm Deloitte found that a majority of those who used AI in their business reported "major" or "extreme" concerns about ethical risks. "Even 18 months ago, ethics was not as much a part of the conversation as it is today," said Beena Ammanath, who leads the AI Institute at Deloitte.

Are your industry peers getting ahead of you with their artificial intelligence or other advanced analytics programs? The year 2020 has certainly been full of turmoil that may have pushed some priorities to the back burner temporarily. But as you are getting back to the new normal, evaluating plans for the rest of 2020, and looking ahead to 2021, you may be looking at that AI program and how your organization will use it to innovate and gain competitive advantage in the future. Just in time for getting back to that new normal, consulting firm Deloitte has issued its third annual State of AI in the Enterprise report. At a high level, most organizations fall into one of three groups, according to Beena Ammanath, executive director of the new Deloitte AI Institute, which the consulting company launched in June.

Where do you stack up against your competitors when it comes to your AI initiative? Deloitte has released its 2020 State of AI in the Enterprise report which found only 47% say that they have a high level of skill around selecting AI technologies and suppliers. Deloitte's third edition of the "State of AI in the Enterprise" survey, conducted between Oct. and Dec. 2019, finds businesses are entering a new chapter in AI implementation where early adopters may have to work harder to preserve an edge over their industry peers. The study shows that companies at the top will be those that utilize AI to pursue creative and novel applications, actively address inherent AI risks and -- as more organizations buy AI-powered capabilities -- become smarter consumers of AI technology. "Seasoned" adopters are the example to follow as the global survey of 2,737 information technology and line-of-business executives finds this category has undertaken many AI production deployments.

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As businesses use artificial intelligence to respond to the pandemic, 2020 marks the start of a mainstream AI adoption era in the enterprise. The technology, in physical and digital form, will couple with human teams to elevate their efficiency, while AI will touch practically every software platform involved in daily work. This is the reality portrayed in Deloitte's State of AI in the Enterprise report, a global survey of 2,700 IT and line of business executives released Tuesday. Three-quarters of AI-adopters expect the technology will be integrated into all enterprise applications in the next three years. For 73% of respondents, deployment of AI within their technology ecosystem is currently "very" or "critically" important to their business.

Posted by Gina Schaefer, Ryan Sanders, on July 16, 2020. While the idea of machines "taking over the world" makes for compelling science fiction, businesses are discovering that the most powerful use cases for intelligent automation (IA) involve people and machines working together as a team. Of course, managing a mixed workforce of human workers and "digital workers" presents its own unique challenges. Here's a look at the critical challenges--and how to address them. Helping human workers embrace intelligent automation, not fear it Intelligent automation has turned the corner from science fiction to business reality and is quickly becoming an essential capability for companies across industries.

Airbus SE is using artificial intelligence to squeeze cost out of its finance function, an experiment launched in the aircraft maker's Americas division that could save the corporation millions of dollars annually if rolled out in other regions. It's one of the latest examples of how companies across sectors are digitizing operations to increase efficiency, reduce human error and free up employees for tasks that require more human judgment, such as strategic planning, analysis and audits. "Companies can now automate highly repetitive activity at a lower cost with a higher degree of accuracy," said David Axson, head of the CFO consulting practice at Accenture Strategy, a unit of consulting firm Accenture PLC. "This especially applies to high-volume-use cases like accounts payable." Less than half of companies' accounts-payable activity worldwide is currently automated, Accenture Strategy says.

The wait is over: artificial intelligence (AI) is here. And despite apocalyptic predictions about workers being replaced by intelligent machines, leading organizations are taking a new tack: actively searching for strategies to integrate AI into teams to produce transformative business results. These "superteams" hold the promise of enabling organizations to reinvent themselves to create new value and meaning, while giving workers the potential to reinvent their careers in ways that help increase their value to the organization and their own employability. For organizations that still view AI mainly as an automation tool to reduce costs, connecting their AI initiatives with their efforts to craft more effective teams is a first step toward enabling humans and machines to work together in new, more productive ways. The Readiness Gap: Fifty-nine percent of organizations say the redesign of jobs to integrate AI technology is important or very important for their success over the next 12 to 18 months, but only 7 percent say they are very ready to address this trend.

From startups to enterprises racing to get new products launched, AI and machine learning (ML) are making solid contributions to accelerating new product development. There are 15,400 job positions for DevOps and product development engineers with AI and machine learning today on Indeed, LinkedIn and Monster combined. Capgemini predicts the size of the connected products market will range between $519B to $685B this year with AI and ML-enabled services revenue models becoming commonplace. Rapid advances in AI-based apps, products and services will also force the consolidation of the IoT platform market. The IoT platform providers concentrating on business challenges in vertical markets stand the best chance of surviving the coming IoT platform shakeout.

Scaling value is about understanding how to move from pilot to production; getting your data strategy in place to drive real-time strategic actions; and establishing the right talent mix, operating model and governance framework. Those who succeed will reap the rewards. And those who fail may find their businesses fall by the wayside (75 percent of executives believe they will be out of business in five years if they cannot scale AI effectively). AI is no longer a "nice to have" or a set of cool tools to impress management. AI and data strategies are becoming the very core of business, and all the while it's becoming easier and cheaper to get your hands on the technology.