April 19, 2019

Top 4 Stats and Predictions for 2019: How to Make AI Work for Your Enterprise

Saroj Hange
Saroj Hange
Top 4 Stats and Predictions for 2019: How to Make AI Work for Your Enterprise

"A number is just a number, and without context, it means precisely nothing."

Below, we’ve compiled relevant research on enterprise AI that shows why it is important to prepare your organization for AI adoption and our take on what these numbers mean for your business.

“The impact of AI technologies on business is projected to increase labor productivity by up to 40% and enable people to make more efficient use of their time.”-Accenture

What does it mean?

HR, IT, Sales or Executive Leadership — organizations are starting to realize the importance of implementing smart AI technologies that can provide instant, on-the-go access to all the information sales teams need to excel in their work, and all the information their customers need to be happy. By giving business users, right from the top-level executive leadership to on the ground field sales reps, seamless access to company’s intelligence in the simplest way possible — through their preferred mode — voice or text on mobile or web, we are seeing many enterprises in our day-to-day taking the necessary steps towards improving the employee experience which directly impacts their productivity at work. After all, to win in the marketplace you must first win in the workplace!

“96% of senior marketers waste an average of five hours and 36 minutes every week trying to improve their data analysis processes.” -Trans Union

What does it mean?

Most business users and mainly, marketers face this huge challenge of capturing, measuring and analyzing buyer’s data from disparate and fragmented sources. In many organizations, there is a dependency on IT to pull data from silos and prepare reports and dashboards for effective data visualization and analysis. Thus, IT is often burdened with repetitive administrative tasks. Irrespective of who does it, more studies reveal that this process of data preparation takes around 80% of the average analysts’ time. It would only make business sense if marketers spent more time generating leads, salespeople spent more time interacting with customers, creating pitches, and closing deals and IT contributed more to business strategy at the table. Can we give them a magic wand that streamlines information flow and delivers contextual insights to business teams?

“Conversational AI-first will supersede cloud-first, mobile-first.” -Gartner

What does it mean?

Rohit Vashisht, CEO of WhizAI has well-reasoned this point. The rise in conversational interfaces will soon unseat the graphical user interface. Even though enterprise AI is still in a very nascent stage, developing a computer that can think like a human brain and converse with us in a natural language has been the Holy Grail of technology. It has been practically proven that various permutations and combinations of big data analytics, machine learning, artificial intelligence, business intelligence, and natural language processing give machines an ability to interact with humans through speech and text and hence, we couldn’t agree more with Gartner’s prediction as we believe the world will soon be conversation-first.

“61% of marketers say artificial intelligence is the most important aspect of their data strategy.” -MEMSQL

What does it mean?

Whilst this trend is relatively new, a recent Gartner survey revealed that the percentage of enterprises employing AI grew 270 percent over the past four years. Results showed that even though the struggle for AI talent continues, organizations across all industries use AI in a variety of applications. Chris Howard, a distinguished research vice president at Gartner said, “If you are a CIO and your organization doesn’t use AI, chances are high that your competitors do and this should be a concern.” Clearly, even if technical expertise and capabilities are in short, there is always the option to collaborate with the right fit-for-purpose technology solutions. You don’t have to go it alone on AI — partner for capability and capacity.

Getting Ahead

We are living in an age of AI where the most exciting and disruptive technologies are growing faster than ever before. In our personal lives, digital experience and engagement are already drawing us into non-stop virtual conversations and it is hard to separate one’s personal and professional self.

Funny or concerning, Gartner mentions among other the high-level trends, which emerge from predictions that “By 2020, the average person will have more conversations with bots than with their spouse.” Whom will you talk to? Our advice: Talk to an intelligent bot at work and your caring Spouse at home!

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