Consulting services leader, Capgemini, has announced the results of a study of over 1,000 organisations with revenues exceeding $500mn that are implementing AI, and what changes that has made. The research in ‘Turning AI into concrete value: the successful implementers’ toolkit’ shows that businesses need not fear loss of jobs, as 83% of respondents say AI has actually generated new roles, and also highlights growth opportunities; 75% of firms have seen a 10% rise in sales as a direct result of AI.
Thanks to AI, businesses are creating more senior level jobs, and there is evidence to show that AI is creating a means of reducing the time employees spend on administrative tasks, allowing them to deliver more value. 71% of organisations have initiated upskilling/reskilling of employees to deal with the complexities of AI, and 88% say intelligent machines are coexisting effectively with humans.
“What we really want to do is to use humans to the best of their capabilities,” said Michael Natusch, Global Head of AI at Prudential. “AI is taking away the time humans previously spent on repetitive issues and allowing them to focus on where human intelligence can drive value – for both themselves and for customers.”
The customer experience is a big focus of AI adopters: 73% think it can increase customer satisfaction scores and 65% believe it could reduce future customer churn. However, the research also indicates that many organizations have yet to align their AI investments with business opportunities.
Ron Tolido, Chief Technology Officer for the Insights & Data Practice at Capgemini, said, “AI has the capacity to revolutionise every business in every market sector; its potential is broad and unlimited. However, we are seeing a large contrast between those who are rolling out applied AI solutions at scale and reaping tangible business benefits, versus those who are simply trialing the technology.
“It’s also quite revealing that organizations are focusing more of their efforts on the more complex AI projects and missing out on simpler projects that could drive quicker returns. Organisations, especially those not yet implementing AI at scale, should focus on those low-complexity, high benefit projects to quickly and better leverage the power of AI.”
As organisations look to harness the power of AI, they will face a range of challenges, and will need to have a clear view of where AI can create the most enduring advantage for themselves and their customers. The report concludes by setting out key steps to get started in implementing AI, including:
A copy of the report can be downloaded here.