Why Companies Still Struggle To Incorporate AI Into Existing Business Models

Artificial Intelligence (AI) is impacting the world in different ways. From core industries such as manufacturing, all the way to healthcare, AI and deep learning models are changing processes and making things more efficient. And despite turbulent times, a report pinpoints that nearly half of the companies have accelerated their AI strategies, 20% doing so "significantly," betting their AI projects will have a positive impact on their organisation's resiliency, efficiency, and innovation. Yet almost half (49%) of respondents feel their company is behind in their AI journey, suggesting a critical gap exists between the strategic need and the ability to execute among business leaders and technologists. They say there is still a lack of knowledge and clarity on the applications of the technology that has been a roadblock due to which AI adoption has been slower than anticipated in the enterprise.