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Wednesday 16 October 2019

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Over a third of businesses implementing AI

Written by Hannah McGrath
21/06/2019

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.



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