TODAY, MUCH OF WHAT WE TAKE FOR GRANTED in our daily lives stems from machine learning. Every time you use a wayfinding app to get from point A to point B, use dictation to convert speech to text, or unlock your phone using face ID, you’re relying on AI. Companies across industries are relying on—and investing in — AI to drive logistics, improve customer service, increase efficiency and much more.
Despite these ever-expanding use cases, when it comes to making the most of AI’s potential, most organizations are barely scratching the surface. In fact, Accenture’s extensive analysis of 1,200 companies globally shows that only 12 per cent of firms have advanced their AI maturity enough to achieve superior growth and business transformation. In this article we will summarize why AI maturity matters and how to get on track to become an ‘AI Achiever.’
Why AI Maturity Matters
Digital transformation has been front of mind for executives for some time now. But we believe AI transformation will happen much faster — on average, 16 months faster. Already, the share of company revenue that is ‘AI-influenced’ more than doubled between 2018 and 2021 and it is expected to triple between 2018 and 2024.
While industries like tech are currently far ahead in their respective AI maturity, the gap will likely narrow considerably by 2024: Automotive is betting on a big surge in sales of AI-powered self-driving vehicles; aerospace and defence firms anticipate continued demand for AI-enabled remote systems; and the life sciences industry will expand its use of AI in efficient drug development. Still, there is enormous room for growth in AI adoption across all industries and an enormous opportunity for those organizations that choose to seize it.
For industry laggards like financial services and healthcare, a range of factors may be
