AI in U.S. Factories? Not There Yet

AI is not just for driverless cars, digital assistants, or movie recommendations anymore; in multiple industries, it's a wave about to break. According to a recent McKinsey Global Institute study surveying 3,000 "AI-aware" companies around the globe, only 20 percent are using AI-related technologies in a core part of the business, but the majority expect to ramp up AI spending in the next three years. Other studies yield similar results. In an Infosys-funded survey of 1,600 business and IT leaders in seven countries, although only 25 percent said AI technologies were fully deployed and working within their organizations, 76 percent overall called AI critical to their companies' success. Organizations with partially or fully deployed AI technologies expect them to contribute a 39 percent increase in revenue and a 37 percent reduction in costs by 2020. Businesses on average have been using AI for about two years and expect mature adoption in three more years.