AI shrouded in misconceptions Channelnomics

Artificial intelligence (AI) is getting a lot of attention among businesses today, as the emerging technology is viewed as an answer to many challenges, such as human resources struggles or improving customer experiences. However, while the technology is getting a lot of attention, there is still a number of misconceptions about what AI is and how it impacts solution providers opting to play in this market. According to a survey by MIT Sloan Management Review of 3,000 executives, managers and analysts across industries, 85 percent of respondents think AI will allow them to acquire or sustain a competitive advantage. However, only 39 percent of companies have implemented an AI strategy, while just five percent have incorporated AI into some offering or processes, and another five percent have extensively incorporated AI into offerings or processes. With high expectations of what AI can do, but low uptake in AI strategies, there is opportunity for solution providers to step in and help business build and enable AI plans.