More than half of companies use AI for IT functions Networks Asia

A majority (84 per cent) of companies polled for a study see the use of artificial intelligence (AI) as "essential" to competitiveness, with a further 50 per cent seeing the technology as "transformative," according to Tata Consultancy Services' Global Trend Study titled, "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies." 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. Asia Pacific companies reported an average 19 per cent increase in revenue stemming from AI. AI spend in the region is expected to hit US$57 million this year. The biggest adopters of AI today are, not surprisingly, IT departments, with two-thirds (67 per cent) of survey respondents using AI to detect security intrusions, user issues and deliver automation. However, by 2020, almost a third (32 per cent) of companies believe AI's greatest impact will be in sales, marketing or customer service, while one in five (20 per cent) see AI's impact being largest in non-customer facing corporate functions, including finance, strategic planning, corporate development, and human resources.