STAYING AHEADOF THE GAME WITH
ARTIFICIALINTELLIGENCE
THE PATH TO BECOMING AN AI-DRIVEN ENTERPRISE
AN IDC INFOGRAPHIC
Machine learning as an effective means to achieve artificial intelligence (AI) is no longer just hype, but an emerging reality. The insatiable demand for higher levels of
convenience and efficiency is driving digital innovations of all kinds, which have converged on a few maturing technologies – including AI. This IDC Infographic takes a
closer look at the global AI landscape and how organizations are increasingly embracing AI to positively transform their business and stay ahead of the competition.
Businesses in the faster growing regions and industries are already reaping the benefits of AI, including increased productivity, higher levels of automation, and the discovery of insights that were not possible before.
*Compound annual growth rate
AI 5-YEAR CAGR*, 2016-2021
TOP 3 BUSINESS BENEFITS EXPECTED FROM AI
PROJECTED AI SPENDING BY INDUSTRY, 2021
AI IS A RAPIDLY GROWING GLOBAL MARKET
ADOPTION INTENTION IS HIGH ACROSS 3 MAJOR GLOBAL REGIONS
BUT THERE ARE BARRIERS TO OVERCOME
Increased employee productivity
Increased process automation
Uncovering new insights
Country with the highest projected growth
Japan
United States
Western Europe
US$57.6 Bil
US$12 Bil
US$9.5 Bil
All industries
Banking, financial services, and insurance
Manufacturing
US$9.3 Bil
US$8.9 Bil
US$5.3 Bil
Retail
Public sector
Healthcare
Asia/Pacific
Adopted
73%
74%44%
49%
(including Japan)Asia/Pacific
of organizations globally have adopted or have firm plans to adopt AI in the next 5 years
The majority of adopters have seen quantified returns meeting or exceeding expectations, and many will increase their spending on AI in the next 2 years.
67%
11%
53%
Western Europe
9%
44%
United States
55%
38%
Planning to adopt within 5 years
52% of organizations in Asia/Pacific agree AI will be
critical for businesses to gain a competitive advantage
77% of organizations in the United States have found the
returns on existing AI adoptions meeting or
exceeding expectations
85% of organizations in Western Europe anticipate
increased spending on AI in the next 2 years
52%
77%
85%
Abundant opportunities for AI, including currency conversion optimization, fraud detection, next best offer, customer analytics, and market position prediction
ENDLESS POSSIBILITIES WITH AI USE CASES FROM DATA-READY PROCESSES
The use of predictive analytics, natural language processing (NLP), and computer vision is gaining momentum across many industries:
Finance/Investment
Enhancing patient care and addressing needs for accessibility and affordability through machine learning, e.g. predicting hospital readmissions, preventing sepsis, augmenting diagnoses, and reducing costs and fraudulent claims
Healthcare
Predicting high-value customers at risk to churn – including likely competitors – and retaining these customers with targeted marketing
Telecommunications
Making the world a better place to live via AI applications, such as finding the best foster home for children
Social Services
Focus on Business Process52% of organizations globally expect AI to significantly change fraud/risk/security management, while 55% expect AI to have an impact on customer service and support, now and within 2 years
The Time is Now�75% of organizations in the United States think their data is already amenable to be used by AI75
%
52%
MAKING THE RIGHT MOVE
ESSENTIAL GUIDANCE
SOURCE:
IDC Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide Forecast 2016 H2IDC Cognitive/Artificial Intelligence Asia/Pacific (Excluding Japan) 2017 Survey (N=660)IDC Western Europe Cognitive/AI Survey, 2017 (N=350)IDC US Cognitive/AI Survey, 2017 (N=301)
Copyright 2017 IDC. Reproduction without written permission is completely forbidden. This IDC Infographic was produced by IDC Custom Solutions. Any IDC information or reference to IDC that is to be used in advertising, press releases, or promotional materials requires prior written approval from IDC. For more information, visit: www.ap.idc.asia or email: [email protected]
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Start with data-rich processes
and a well-defined business case
Tackle the data challenges by employing solid platforms for data preparation, prediction, and visualization
Empower users of all skill types to quickly develop and deploy predictive models
Take out the technicality of AI modeling by leveraging
automated machine learning with best-of-breed algorithms
ADOPTION BARRIERSTOP 3
Lack of data and skill sets57% High cost of
solutions
25%Challenges with
stakeholder buy-in
49%
Shortage of data scientists or AI specialists, with some
organizations not having any
Overwhelming effort needed in data preparation and
exploration, largely due to data quality problems
Generation of meaningful insights requires convergence
of both data science and domain expertise
AI
CHALLENGES
73% of organizations do not have data scientists or AI specialists in-house
