Why Artificial Intelligence is Crucial for Businesses in India?

By John Roshan Anto, Digital Content Writer, siliconindia  |  Tuesday, 14 January 2020, 06:53:11 PM IST

Why Artificial Intelligence is Crucial for Businesses in India?

According to a study by Accenture, nearly 80 percent of the top-notch executives in India believe that if AI is not deployed Artificial Intelligence (AI) in the organizations, there are chances of going out of business by 2025. Along with this, the research also found that 79 percent of the C-level executives in India believe that without scaling AI they won’t achieve the business strategy. In India, only a few numbers of organizations are successful in powering the robust AI capabilities.

The AI-powered organizations achieve almost three times the return they get from AI investments compared to the other lower-performing companies. Accenture surveyed 1,500 C-Suite executives, which marked minimum revenue of $1 billion in 12 countries, across 16 industries.

From the study, it is clearly understood that the secret to achieving the goals centers around three key factors such as strong data foundation, multiple dedicated AI teams, and a C-suite-led commitment to strategic, organization-wide AI deployment. Organizations that already deployed the AI show their deep commitment and ambition by conducting nearly twice as many pilots as the other companies.

But, the commitment towards AI does not require huge investments from the organizations and the successful organizations claim that lower investments can bring forward top performance and full-scale deployments. Apart from this, the top executives across the organizations have strategically embedded multi-disciplinary teams in their companies.

Most of the respondents believe in the necessity of data as the foundation to increase AI, but the successful top performers are more intentional and concentrating on the right, apt, relevant data assets to emphasize the AI efforts they put in.

Understanding that, the key to success is by solving the challenges with the upcoming and trending technologies can be crucial. It’s high time for the organizations to upgrade their business with the latest Artificial Intelligence to enhance the revenue and to make efficiency a key figure.

ON THE DECK

siliconindia