Artificial Intelligence (AI) and Machine Learning (ML) are leading edge technologies that involve using algorithms to make predictions based on large datasets, much in the way humans take action based on experience, but with far greater efficiency and at a much greater scale. Because of these qualities, AI/ML has an enormous perceived potential ttot automate a range of processes across the organization. But are IT executives adopting this innovative technology? And are their efforts coming to fruition?
Pulse asked IT executives across a range of industries questions pertaining to their adoption of AI, how much they plan to invest in it, and what they are hoping to achieve by integrating more AI into their current business strategies.
The survey found that almost two-thirds of executives are already investing in AI/ML tools, and that investment has increased for most over the last year. Additionally, 77% of respondents expect to see their spending in AI/ML continue to increase over the next 12 months.
AI can feel like a broad-reaching tool to many-- and it is. But there are a number of specific business wins that are driving IT leaders’ investment in these technologies. The primary reason for investing in AI was automating workflows and processes, followed by improving data quality and, more generally, innovation.
Adopting AI can also come with its challenges. Amongst the largest concerns were the cost of adoption, justifying adoption to the company, and finding the right tool for the specific goals of the business.
When adding any new tool to your tech stack, it’s important to be able to prove out ROI, but 80% of IT leaders are finding it difficult to identify measurable results from their investments.
Methodology Pulse gathers feedback from its community of IT executives. The data reported in this infographic was gathered between October 5-October 15, 2020. 100 IT executives were surveyed.
Demographics Location - 76% of respondents reside in the United States or Canada, 21% reside in EMEA and 3% reside in APAC. Job Level - 42% of respondents are Directors, 15% are VPs, 33% are C-Suite, and 9% are Managers.
Kara is the market director of the B2B services & industry vertical markets at G2. She is passionate about understanding people's business problems and educating software buyers to make informed purchasing decisions. Kara builds meaningful relationships with vendors and providers to ensure end users understand the solutions available to them. She has spent the last four-plus years building G2's market research team and is dedicated to developing industry-leading taxonomies and resources. Her coverage areas include industry verticals, services, and buyer behavior.