Artificial intelligence (AI) is revolutionizing the way organizations will operate in the future. It is a cornerstone of the digital transformation and will significantly change many business areas we know today. Based on a recent study conducted by Accenture, three quarters of nearly 1500 interviewed C-level executives are afraid of going out of business unless they scale AI [1]. Companies around the globe face the challenge to successfully anchor and spread AI technology in their organization in a value-adding manner. Creating value from AI not only requires operational measures such as technology and infrastructure ramp-up.

The economic value of data for companies is challenging to conceptualize and measure directly. Many executives have the wrong perception of data monetization. To them, the only way to derive economic value from data is to sell it to other companies. As a result, they overlook the immense untapped value that it represents. Companies can monetize by improving customer experiences, reducing costs, finding new customers, and so much more from the data that is produced directly or indirectly using big data analytics and AI.

A survey of over 1,200 executives has just revealed that despite massive and increasing investments in digital transformation and technologies such as artificial intelligence and big data, companies are struggling to turn those investments into real business results. A survey unveiled today by Deloitte has found that the number of companies investing heavily in digital transformation has almost doubled in the past year. The accounting and services giant questioned 1,200 executives at organizations of at least 500 people with above $250 million in revenue, finding that 19% planned to invest $20 million or more during 2019. When asked the same question at the start of 2018, 10% gave that answer. Despite Massive Investments In AI And Digital Transformation, Survey Finds Poor Results And 7 Enabling Capabilities The term "digital transformation" has come to mean steps that move an organization towards adopting data-driven business models, typically involving artificial intelligence (AI), big data and predictive analytics technology.