The Stamford firm’s 2019 CIO Survey of more than 3,000 executives in 89 countries found that AI implementation has grown by 270 percent in the past four years.
According to a new report by Gartner, AI, whose adoption rates were 10% in 2015, has seen an increase of 270% over the last four years and 37% in the last year alone. Some estimates put the AI global market at $6.14 billion by 2022.
Since entrusting complex, business-critical tasks to AI is still not happening, the trend is to take up AI-augmented work for now- what is popularly called Augmented Intelligence. But all CIOs need to adopt some form of AI, in order to stay competitive, that’s a given.
The CIOs surveyed represented companies with $15 trillion in revenue and public-sector budgets and $284 billion in IT spending. There, the deployment of AI tripled in the past year, rising from 25 percent in 2018, majorly due to “maturation” of AI capabilities, Gartner maintains, and the speed it’s taken on to become an integral part of digital transformation strategies. However, the lack of skills remains a major barrier for even faster growth and adoption of AI in enterprises, and this gap has been expressed by 54% of the survey respondents.
Another source that shows these trends is the Deloitte’s second State of the Enterprise compendium released this fall. In this survey, 42 percent of executives said they believed that AI would be of “critical importance” within two years. In this report, NLP has been shown as the fastest growing adoption at 2% and ML was a close second at 58%. This report also had 20% of the respondents showing concern for lack of skills availability in areas of AI software developers, data scientists, user-experience designers, change-management experts, project managers, business leaders, and subject-matter experts.
CIOs will need to look for alternate solutions like crash courses, training and on job exposure for employees, because there is now no slowing down for AI adoption, and the skills will just have to be created.