Artificial intelligence adoption driving revenue growth for businesses: Infosys

NEW DELHI: Artificial intelligence (AI) will play fundamental role in the success of an organisation's strategy but stringent ethical standards are also needed to ensure the success of the new technology, a report by Infosys today said. The report said organisations that have already deployed or have plans to deploy AI technologies expect to see a 39 per cent increase on an average in their revenues by 2020, alongside a 37 per cent reduction in costs. Also, companies in India and China are much more likely to state that they are ahead of industry competitors when it comes to AI use, followed by Germany, the US, the UK, France, it added. About 76 per cent respondents cited AI as fundamental to the success of their organisation's strategy, and 64 per cent said future growth of the company is dependent on large-scale AI adoption. The report also highlighted the ethical and job related concerns with 62 per cent respondents saying stringent ethical standards are needed to ensure the success of AI. "However, most respondents seem optimistic about redeploying displaced employees with higher value work. The majority, 85 per cent, plan to train employees about the benefits and use of AI," the report said.