As per a recent study by Accenture, around 80 per cent of C-level Indian executives believe that failing to aggressively deploy artificial intelligence (AI) across their organisations can risk them going out of business by 2025.
The research ‘AI: Built to Scale’ found that while executives in India believe that they would not be able to achieve their business strategy without scaling AI, shift from experimentation to creating an organisation powered by AI capabilities has been made by only a handful. This small group of companies is achieving nearly three times the return from AI investments as their lower-performing counterparts, the study said.
As per the report, the three key essential elements for the success for top performers include a strong data foundation, multiple dedicated AI teams, and a C-suite-led commitment to strategic, organisation-wide AI deployment.
Further, the report added that nearly all global respondents (95 per cent) agree on the importance of data as the foundation to scaling AI. However, only the top performers are focused on the data assets for their AI efforts.