AI to have a profound effect on business by 2020

A new report by Tata Consultancy Services has shown just how profound of an effect artificial intelligence already has, and will have, on businesses everywhere. The "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies" study says 84 per cent of companies worldwide see AI as'essential' to being competitive. Another half (50 per cent) see the technology as'transformative'. Two thirds (67 per cent) of IT departments are adopting AI, mostly to detect security intrusions and deliver automation. This has made them the biggest adopters of AI today.