Can enterprise intelligence be created artificially?A survey of Indian enterprises
Blog: NASSCOM Official Blog
Artificial Intelligence is emerging as a strong force for enterprises to innovate and transform. The report is based on survey of 500+ CXOs across India to study the maturity of AI adoption along with key challenges faced in their enterprise AI journeys. This report is part of a joint endeavor by NASSCOM and EY to determine the pulse of Indian enterprises in evaluating and deploying AI technologies, and to assess in-depth, the implications of AI technology advancements on key focus sectors, including BFSI, Retail, Healthcare and Agriculture. It also delves into the key enablers required to fast track AI adoption and proposes a roadmap to guide enterprises in their adoption journey.
Key Highlights
1. AI reality check
- ~60% of CXOs believe that AI will disrupt their businesses within 3 years, yet only 25% have deployed AI solutions
- Operational efficiency, customer experience and revenue growth are the top three reasons for implementing AI
- From amongst the four key focus sectors, BFSI takes the lead on AI adoption followed by Retail, Healthcare and Agriculture
- Enabling core operations and enhancing customer service/experience are the top functional beneficiaries of AI
2. Impediments to AI adoption
- Key hurdles comprise technology and data, ability to prove ROI, talent and culture and trust, regulation and ethics
- Business leaders report differences in their experiences with, and perceptions regarding AI adoption
- ~55% enterprises, that have deployed AI, believe cultural impediments and low maturity of external ecosystem are biggest challenges
- ~60% enterprises that have not implemented AI believe that low level of enterprise digitization is holding them back
3. Enhancing AI maturity
- AI maturity model aims to provide enterprises a frame of reference for their current state maturity
- Eight dimensions allow organizations to map themselves against three stages of maturity
- Roadmap for moving up the AI maturity ladder from Beginner to Advanced
- Understanding the “art of possible” is a crucial step for enterprises to start their AI journey
4. Making it happen
- Strategic planning and integrated governance act as key AI enablers, effectively leveraging data, technology and talent
- Over 55% of CXOs stated that they trust AI to make strategic and/or operational decisions
- 74% enterprises have either formal strategy or C-suite sponsorship to initiate or scale-up AI programs
- 88% enterprises state that their risk management frameworks require improvement
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