Industry disruption from artificial intelligence already here: Infosys

Infosys President Mohit Joshi
Infosys President Mohit Joshi today said Industry disruption from Artificial Intelligence (AI) was already on and organisations not using it to amplify their workforce will fall behind or find themselves irrelevant.

"Industry disruption from AI is no longer imminent, it is here. The organisations that embrace AI with a clearly defined strategy and use AI to amplify their workforce rather than replace it will take the lead and those that don't will fall behind or find themselves irrelevant," he said.

Joshi said this in a statement while releasing the company's global research on the impact of Artificial Intelligence (AI) at Davos, where the world Economic Forum is currently underway.

The research findings says enterprises are moving beyond the experimentation phase with AI, deploying AI technologies more broadly and realizing benefits across their business.

The research report "Leadership in the Age of AI" surveyed more than 1,000 businesses and IT leaders with decision making power over AI solutions or purchases at large organisations across seven countries.

It also says 73 per cent of respondents agreed or strongly agreed that their AI deployments have already transformed the way they do business, and 90 per cent of C-level executives reported measurable benefits from AI in their organisations.

Additionally, the data showed organisations were taking steps to prepare employees and business leaders for future of work, with 53 per cent of respondents indicating that their organisation has increased training in job functions most affected by AI deployments.

The research says AI deployments are no longer imminent, but are becoming pervasive as 86 per cent of organisations surveyed have middle or late-stage AI deployments and view AI as a major facilitator of future business operations.

It also said that while a majority of organizations (66 per cent) start off using AI to automate routine or inefficient processes, businesses in later stages of AI deployment leverage the technology to innovate and differentiate.

It also says India, U.S. and China led geographies with the most respondents stating that their organizations had realized direct, tangible results from deploying AI technologies with 75 per cent, 71 per cent and 61 per cent respectively.

Australia trailed behind the leading geographies with 57 percent followed by the United Kingdom (42 per cent), Germany (40 per cent) and France (33 per cent).

Leading industries now using AI to automate business processes include retail and consumer packaged goods at 85 per cent, followed by telecom and communication service providers (83 per cent) and banking and insurance (80 per cent).

Seventy-seven per cent of the respondents surveyed were confident that employees in their organisation can be trained for the new job roles AI technologies will create.

C-level executives likewise called out training the leadership team on AI as a top priority47 percent of business leaders put leadership training in their top three priorities, compared to 40 percent who put employee training in their top three priorities.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)