As per the report by International Data Corporation, almost 50 percent of the participating global organizations perceived Artificial Intelligence as a top priority. While 25 percent of these businesses had successfully implemented a company-wide AI strategy, almost 60 percent had modified their business model to accommodate AI-driven functionalities. However, one-fourth of the respondents reported that up to 50 percent of their AI projects couldn't provide the desired results. Overall, many businesses experience issues when trying to incorporate Artificial Intelligence (also known as AI) into their operations. There are various reasons for this, such as the higher costs involved, the requirement of specialist skills, and reliance on the collection of comprehensive data.

The US health industry just stepped into a new era where competitive advantage will favor organizations able to AI-enable their workforce better than their competitors. The transformational allure of AI is nearly irresistible. In my last blog, I referenced analyst firm, Frost & Sullivan, predicting AI's potential to improve health outcomes by 30-40% and to reduce the cost of treatment by as much as 50% in next 7-10 years. It's clear there's a lot of potential in this space, but understanding how to unlock those benefits and put them to work isn't. According to a recent AI is here report by Forbes Insights, organizations most likely to emerge as market leaders are those that can build and execute a company-wide AI strategy.