Artificial intelligence will have a dramatic impact on business by 2020, according to study released this week by IT services, consulting and business solutions provider Tata Consultancy Services (TCS). The firm's study, "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies," shows that 84 percent of the 835 executives TCS surveyed from North America, Europe, Asia-Pacific and Latin America said their companies see the use of AI as "essential" to competitiveness. Artificial intelligence in the real world: What can it actually do? What are the limits of AI? And how do you go from managing data points to injecting AI in the enterprise?

Eighty-four percent of large companies around the world say they are using artificial intelligence, and 62% say AI is important to remaining competitive in the year 2020. Tata Consultancy Services polled 835 executives and IT managers in North America, Europe, Asia Pacific and South America at companies that averaged $20 billion in revenues. It found AI to be almost universally important, but the average investment in it was one-third of one percent of revenues, or $67 million. Only 7% said they spent $250 million or more in 2016. The average was $67 million; the median for the whole group, only $3 million.

Artificial intelligence (AI) is currently a technology still percolating in the depths of IT departments and the fever dreams of industry pundits, but it may only be a matter of a couple of years that it bursts across many day-to-day business processes. That is one of the key takeaways from a recent survey of 835 executives from Tata Consultancy Services (TCS). The survey shows 84% see the use of AI as "essential" to competitiveness, and half see the technology as "transformative." But for now, it's still only in widespread use among a handful of practitioners -- eight percent of executives use AI mainly as a workhorse for IT departments, mainly to detect security intrusions, user issues and deliver automation. Looking into the near future, everyone expects a lot out of AI.

That is one of the key takeaways from a recent survey of 835 executives from Tata Consultancy Services (TCS). The survey shows 84% see the use of AI as "essential" to competitiveness, and half see the technology as "transformative." But for now, it's still only in widespread use among a handful of practitioners -- eight percent of executives use AI mainly as a workhorse for IT departments, mainly to detect security intrusions, user issues and deliver automation. Looking into the near future, everyone expects a lot out of AI. At least 32% of executives believe that by 2020, AI will be helping to guide their sales, marketing or customer service functions.

Artificial intelligence (AI) is currently a technology still percolating in the depths of IT departments and the fever dreams of industry pundits, but it may only be a matter of a couple of years that it bursts across many day-to-day business processes. That is one of the key takeaways from a recent survey of 835 executives from Tata Consultancy Services (TCS). The survey shows 84% see the use of AI as "essential" to competitiveness, and half see the technology as "transformative." But for now, it's still only in widespread use among a handful of practitioners -- eight percent of executives use AI mainly as a workhorse for IT departments, mainly to detect security intrusions, user issues and deliver automation. AI will move beyond its IT origins to illuminate new ways to do business.

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.

Artificial intelligence will have a dramatic impact on business by 2020, according to study released this week by IT services, consulting and business solutions provider Tata Consultancy Services (TCS). The firm's study, "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies," shows that 84 percent of the 835 executives TCS surveyed from North America, Europe, Asia-Pacific and Latin America said their companies see the use of AI as "essential" to competitiveness. Artificial intelligence in the real world: What can it actually do? What are the limits of AI? And how do you go from managing data points to injecting AI in the enterprise?

Tata Consultancy Services 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." 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 67% of survey respondents using AI to detect security intrusions, user issues and deliver automation. However, by 2020, 32% of companies believe AI's greatest impact will be in sales, marketing or customer service, while 20% see AI's impact being largest in non-customer facing corporate functions, including finance, strategic planning, corporate development, and HR. Companies participated from a range of industries, including automotive, banking and financial services, energy, healthcare, life sciences, industrial manufacturing, and retail.

Artificial intelligence will have a dramatic impact on business by 2020, according to study released this week by IT services, consulting and business solutions provider Tata Consultancy Services (TCS). The firm's study, "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies," shows that 84 percent of the 835 executives TCS surveyed from North America, Europe, Asia-Pacific and Latin America said their companies see the use of AI as "essential" to competitiveness. Artificial intelligence in the real world: What can it actually do? What are the limits of AI? And how do you go from managing data points to injecting AI in the enterprise?

LONDON: Artificial intelligence, regarded as "essential" to competitiveness, will have a dramatic impact on businesses by 2020, according to a study by India's leading IT services provider Tata Consultancy services. Focused on the current and future impact of Artificial Intelligence (AI), the seventh Global Trends Study, concluded in June last year, polled 835 leading executives across 13 global industry sectors in four regions of the world, finding that 84 per cent of the companies see the use of AI as "essential" to competitiveness, with a further 50 per cent seeing the technology as "transformative". Exploring the views and actions of decision makers from global companies with average revenues of USD 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 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 HR.