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.

Only 25% of organisations using artificial intelligence (AI) have adopted an enterprise-wide AI strategy, according to a recent report by intelligence and advisory services platform International Data Corporation (IDC). The Chinese-owned, USA-based advisory firm also said that the findings of its report titled'Artificial Intelligence Global Adoption Trends & Strategies' suggested that half of the organisations surveyed see AI as a priority and two-thirds of them emphasise a culture which gives AI primacy. The survey found that the primary drivers behind the AI initiatives were to improve productivity, business agility and customer satisfaction by leveraging the automation capabilities. Faster time to market new products and services was a leading reason for the implementation of AI by these firms. As per the report, the factors delaying fuller implementation of AI technology in the surveyed organisations were found to be the cost of AI solutions, lack of skilled personnel and biases creeping into the data.

AT A time when the country's Information Technology industry is forced to carry out mass layoffs, experts argue that Artificial Intelligence (AI) and Data Science sectors offer a glimmer of hope. While it is feared that IT jobs are being lost to robots, Y S Chowdary, Minister of State for Science & Technology, told The Indian Express that the country lacks skilled personnel in the fields of Data Analytics and Artificial Intelligence. "Softwares are evolving and we need new kinds of skills. There is a huge demand-supply gap in data analytics field," said Chowdary. "Majority of government missions is based on historical data. However, today there is data available even from the unorganised population. We need to concentrate on capacity building to analyse this data to better our governance," said Chowdary, who was the chief guest at a Data Science Congress held in the city earlier this month.