What makes Artificial Intelligence significant for business during the Pandemic?

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There have been various research conducted about the performance and the significance of AI for businesses all over the world. The fruitfulness of the precise deployment of AI has been witnessed by 13% of the organizations, who have been able to successfully develop and launch Apps despite the pandemic and economic slowdown. A study by Capgemini, which ended in April 2020 literally lays its focus on what differentiates AI-at-scale leaders from those organizations who are still struggling to get the results. AI-at-scale leaders have been defined to be that 13 % of the organizations that have been able to deploy artificial intelligence successfully. Capgemini’s recent study shows that 72% of the organization has not been able to deploy even a single application. The highlights of the study show various reasons for the success of the 13% organization and throw light on the differentiating factors between the organizations.

1. The need for tight collaboration between business and IT: Capgemini’s study shows that the organizations that have been able to join forces between their business and Information Technology have gained highly as they share the responsibility of the consequences. On the other hand, 46% of the organizations are running AI pilots and Proof of Concept (POC) and still couldn’t deploy an app into production. The study says that the POC can be taxing as the need for it is expressed freely but accountability of a negative or a positive result not is readily accepted by any of the departments.

2. Life science industry tops the rank of AI-at-scale: Out of all the industries, life science is at the top of the chart holding a 27% of all the AI-at-scale organizations, followed by the retail sector holding 21%, Consumer Product and Automotive holding 17% and Telecommunication Sector holding 14% of the AI-at-scale organizations. The sector which can be highly benefited from the deployment of AI is the Telecom sector, which has a scope of high expansion with the help of AI. On the other hand, Government and Consumer products are the two industries where the pilot and Proof of Concept run at a high risk of not being moved to production, the percentage being as high as 59%.

3. The organizational behavior towards AI deployment Initiative: Different organizations have shown different type of responsiveness towards the deployment of Artificial Intelligence during the pandemic, wherein, 21% of the organizations have accelerated the speed of deployments, whereas, 58% of the struggling organizations have suspended their efforts and have pulled back their investments. Most positively, 78% of the AI-at-scale leaders continue to improve on their AI initiatives out of which 97% of the organization has seen remarkable benefits that met their expectations.

4. Additional benefits of AI: 79% of the AI-at-scale organizations see an unexpected increase in sales by 25% of traditional products and services this year. They also reap the additional benefits from the use of AI in the form of high customer satisfaction levels and improved cybersecurity measures.

5. Concentration on large-scale deployment of AI in every department: The organizations that have already started seeing a result from the Implementation of AI have also started laying focus on use cases and hence, ensure that different departments benefit from the use and of AI and contribute towards its deployment and use.

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