Artificial Intelligence to Have Dramatic Impact on Business by 2020, According to Tata Consultancy Services Global Trend Study

Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today unveiled its Global Trend Study titled, "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies." Focused on the current and future impact of Artificial Intelligence (AI), the study polled 835 executives across 13 global industry sectors in four regions of the world, finding that 84% of companies see the use of AI as "essential" to competitiveness, with a further 50% seeing the technology as "transformative." Widespread AI adoption expected across job functions Exploring the views and actions of decision makers from global companies with average revenues of $20 billion, the study revealed AI is spreading across almost all areas of a company. The biggest adopters of AI today are, not surprisingly, IT departments, with two-thirds (67%) of survey respondents using AI to detect security intrusions, user issues and deliver automation. However, by 2020, almost a third (32%) of companies believe AI's greatest impact will be in sales, marketing or customer service, while one in five (20%) see AI's impact being largest in non-customer facing corporate functions, including finance, strategic planning, corporate development, and HR.