Over a third of businesses implementing AI

The adoption of artificial intelligence (AI) is expanding, with more than a third (38 per cent) of businesses implementing some form of the technology within the past year.

A social media survey of 500 professionals carried out by MHR Analytics found that machine learning or AI featured in respondents’ analytics approach in the last 12 months.

However, despite growing appetite for AI across all industries, 62 per cent of respondents said they are still encountering challenges to implementation.

Almost a fifth (19 per cent) of those polled on Twitter said their company had made ‘significant’ progress with adopting AI, and a further 19 per cent said their company had ‘steadily’ been adding the technology to their analytics strategy.

Nick Felton, senior vice president at MHR Analytics, commented: “We are now seeing a clear shift in focus in the way companies operate their analytics, with AI capabilities like NLP [natural language processing], machine learning and conversational analytics becoming a reality.

“Businesses are now well aware of the need to adopt this technology and the advantages it can bring to them, such as increased efficiency, revenue growth, customer experience and overall reductions in operational costs.”

He added that despite awareness of the benefits, the majority of organisations still perceive challenges to embarking on their data journey, from ‘operational’ or manual-based analytics, to automated analytics.

    Share Story:

Recent Stories


The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.