The ‘State of Intelligent Enterprises’ report finds only 17% of enterprises are implementing these practices
Bengaluru, NFAPost: Wipro Limited, a leading global information technology, consulting and business process services company, launched the ‘State of Intelligent Enterprises’ report which states 95% of business leaders consider AI critical to the progress of business operations and the development of an intelligent enterprise.
The study emphasises that enterprises of the future will be built on a foundation of Artificial Intelligence (AI), Analytics, Machine Learning, Deep Learning and Automation, that are central to solving business problems and driving innovation.
Most businesses consider AI to be critical to improve operational efficiency, reduce employee time on manual tasks, and enhance the employee and customer experience. The report shows 17% has fully adopted AI, but more
56% do not use it for maximum ROI.
The ‘State of Intelligent Enterprises’ report examines the current landscape and shows the challenges and the driving factors for businesses to become truly Intelligent Enterprises.
Wipro surveyed 300 respondents in UK and US across key industry sectors like financial services, healthcare, technology, manufacturing, retail and consumer goods.
The report highlights that while collecting data is critical, the ability to combine this with a host of technologies to leverage insights creates an Intelligent Enterprise. Organizations that fast-track adoption of intelligent processes and technologies stand to gain an immediate competitive advantage over their counterparts.
Some of the key findings from the report are:
- While 80% of organizations recognize the importance of being intelligent, only 17% would classify their organizations as an Intelligent Enterprise.
- 98% of those surveyed believe that being an Intelligent Enterprise yields benefits to organizations. The most important ones being improved customer experience, faster business decisions and increased organizational agility.
- 91% of organizations feel there are data barriers towards being an Intelligent Enterprise, with security, quality and seamless integration being of utmost concern.
- 95% of business leaders surveyed see AI as critical to being Intelligent Enterprises, yet, currently, only 17% can leverage AI across the entire organization.
- 74% of organizations consider investment in technology as the most likely enabler for an Intelligent Enterprise, however 42% of them think that this must be complemented with efforts to re-skill workforce.
Commenting on the report, Wipro Limited Vice President & Head – Data, Analytics & AI Jayant Prabhu said organisations now need new capabilities to navigate the current challenges.
“The report amplifies the opportunity to gain a first-mover advantage to being Intelligent. The ability to take productive decisions depends on an organization’s ability to generate accurate, fast and actionable intelligence. Successful organisations are those that quickly adapt to the new technology landscape to transform into an Intelligent Enterprise,” said Wipro Limited Vice President & Head – Data, Analytics & AI Jayant Prabhu.
The report states that data transformation and insights transformation initiatives are necessary first steps. Organizations that attempt to leap into AI without taking these steps will find the results disappointing.
“Within organizations already using AI, IT teams were adopting the technology faster than any other department. Many respondents claimed other departments to be very mature, suggesting promising growth throughout organizations, but this by itself is revealing: efforts to date have been more siloed than they should be,” states the report.
Substantial competitive advantage will accrue to the organizations that lead change by partnering with technology companies that have proven capabilities in deploying AI-based solutions. The goal should be to achieve quick wins that build organizational confidence before scaling the solutions across the enterprise.
“Becoming an Intelligent Enterprise is an ongoing journey. At every milestone, what the organization learns sets the stage for it to reach the next level. With years of domain expertise, an exhaustive partner ecosystem, and comprehensive service offerings in every aspect of data and insights transformations, Wipro has been partnering organizations, propelling their journey as an Intelligent Enterprise,” states the report.
The report concludes stating that the promise of becoming an Intelligent Enterprise is undeniably compelling as it enables organisations to shrink costs, discover previously untapped revenue sources, speed-critical business decisions, and build a better world for employees and customers alike.
Download the full report from here