AI is key for business success, but lack of skilled staff remains a barrier

Artificial intelligence (AI) is increasingly seen as a technology that can help businesses better control data and other assets, improve daily processes, manage customers, and defend against cyberthreats. And though business leaders see AI as a road to success, they also acknowledge several bumps along that road, according to a report released Thursday by EY. Based on an EY survey of 500 US CEOs and business leaders, the study entitled "AI important to a company's success, but lack of skilled personnel remains a barrier" found that 84% of the respondents said they feel AI is important to the future success of their company, with 55% seeing it as a way to cut costs and drive new revenues. Breaking that down further, some 62% said that AI will have a major impact on creating efficiencies at their company, 62% said it will help them remain competitive, and 60% said it will help them gain a better understanding of customers. However, business leaders also see several obstacles in the adoption of AI.