18/04/2024 | Press release | Distributed by Public on 18/04/2024 04:49
In the era of digital transformation, industries are undergoing a profound evolution driven by artificial intelligence (AI) and data analytics. Innovations and advancements in generative AI (GenAI), virtual assistants, machine learning (ML), hybrid clouds, predictive analytics, and natural language processing (NLP) are set to revolutionize industries by transforming manufacturing, automating workflows, personalizing services, enhancing customer experience (CX), and driving business growth. Further, as AI implementation in organizations shifts from the proof-of-concept stage to full-scale deployments, the failure to implement robust, enterprise-wide AI strategies can impede large scale implementations that unlock enterprise-wide value from the technology. This is intensifying the pressure on enterprises to tackle barriers like data readiness, legacy infrastructure limitations, complex technology integrations, data disparities, and regulatory compliance to reap the rewards of democratized AI.
While businesses realize the potential of AI, successful application to achieve desired business outcomes depends on several factors. Frost & Sullivan's unique 4-stage AI maturity framework offers a structured approach for organizations to evaluate enterprise AI readiness. It also enables technology providers to identify new growth opportunities, enhance customer value, and assists end users in effectively navigating the dynamic AI opportunity landscape.
AI Demystified: Key AI Maturity Indicators
Where does your organization stand in terms of AI maturity, and which strategies will help your teams scale AI implementation across different business functions?
Are Your Teams Equipped to Tackle the Complexities of AI Deployment?
Frost & Sullivan finds that though 97% of enterprises view AI and ML as important tools in helping them achieve their business goals, just 1% have achieved a ubiquitous level of AI maturity. As a result, providers are being pushed to capitalize on the opportunity to provide advisory services, support enterprise-wide AI adoption, and develop compelling value propositions that focus on data security and industry knowledge. Today, the following emerge as key customer/IT decision maker (ITDM) concerns about adopting AI across business processes:
This implies that as providers democratize AI, they face the imperative of looking beyond their core offerings to strengthen integration and data migration support services, develop comprehensive advisory capabilities/IT services, and align growth strategies with rapidly transforming technology landscapes -How is your leadership committee implementing best practices to capitalize on emerging AI applications across different industries?
Capitalizing on Emerging Growth Opportunities
Today, AI and advanced analytics are bringing about a new era of data-driven decision making and automation. Chatbots, for instance, are transforming customer service by providing instant responses and freeing up human agents for more complex tasks. AI algorithms are seamlessly analyzing massive datasets with unprecedented accuracy, uncovering hidden patterns and generating valuable insights that were previously impossible. Further, AI is also revolutionizing network management, optimizing resource allocation, preventing network failures, and enhancing security through advanced threat detection. This is unleashing the following growth opportunities for ICT providers to boost operational efficiencies, catalyze creativity and innovation, and create new revenue streams:
and more.
Has your growth team identified the most lucrative opportunities and best practices that will help your company thrive amid the ongoing AI revolution?
About Frost & Sullivan
Frost & Sullivan, the growth pipeline company, enables clients to accelerate growth and achieve best-in-class industry positioning in terms of innovation and leadership. The company's 'Growth Pipeline-as-a-Service' provides corporate management teams with transformational strategies and best-practice models that catalyze growth opportunity generation, evaluation, and implementation. Let us coach you on your transformational journey, while we actively support you in fostering collaborative initiatives within the global AI and data analytics ecosystem. This journey is fueled by four powerful components, ensuring your success in navigating dynamic business and industry landscapes.
About Frost & Sullivan