Enterprises need to prepare themselves in five key areas – strategy, governance, talent, data, and technology – to achieve significant productivity gains from AI
BENGALURU, India, Oct. 29, 2024 /PRNewswire/ -- Companies globally recognize the potential of artificial intelligence (AI) and are eager to adopt enterprise AI, yet most are far from fully integrating AI into their businesses and operations owing to large gaps in basic AI readiness, reveals a new research from the Infosys Knowledge Institute (IKI), the research arm of Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY).
The Infosys Enterprise AI Readiness report includes insights from over 1,500 respondents across Australia, New Zealand, France, Germany, the United Kingdom, and the United States, backed up with in-depth interviews with 40 senior executives in the US and UK.
The Infosys research highlights that while executives envision AI as the next industrial revolution, transforming business models and shaping the new economy, many companies lack the foundational building blocks for successful enterprise AI adoption. According to the research, enterprises expect an average increase of 15% in productivity from their current AI projects, with some anticipating up to 40% gains, yet only 2% of organizations are ready across all five key dimensions: talent, strategy, governance, data, and technology. The biggest gaps lie in technology readiness, with only 9% of companies possessing the necessary AI capabilities like machine learning frameworks, prebuilt algorithms, and dynamic compute. Additionally, data accuracy, processes, and accessibility are significant challenges, with only about 10% of respondents reporting ease of data location and access for AI projects.
To overcome these hurdles and realize the full potential of AI, including gen AI, companies must address readiness gaps and foster a culture of innovation. A clear AI strategy aligned with business objectives is essential, encompassing technology investments, talent acquisition, and ethical considerations.
The research outlines five steps to close the gaps and reduce apprehensions about AI to accelerate adoption:
Responsible AI OfficeInfosys TopazMohammed Rafee Tarafdar, Chief Technology Officer, Infosys, said: "To become enterprise-wide AI-ready and realize the promise of this technology, including gen AI, it is imperative to establish a robust and scalable foundation. Our research and learnings from our AI-first transformation journey has shown that data readiness, enterprise gen AI platform with responsible AI guardrails, and AI talent transformation are key to accelerate and democratize AI development. This must be complemented by an AI foundry and factory model for scaling AI initiatives across the enterprise."
Jeff Kavanaugh, Head of Infosys Knowledge Institute, said, "Our research found that Enterprise AI, including gen AI, promises to unlock up to 40% in productivity gains, yet only 2% of companies are truly ready. This readiness gap represents both a challenge and a massive opportunity. Those who act now – by building a clear AI strategy, including gen AI, establishing strong governance, and upskilling talent – will not only lead the next wave of innovation but will fundamentally reshape their industries. AI is not a distant goal; it is the prerequisite foundation for future competitiveness. The time to invest in AI readiness is now."
To read the full report with detailed insights, please visit here.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
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