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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Enterprises expect an average productivity increase of 15 percent from their current Artificial Intelligence (AI) projects, with some anticipating gains of up to 40 percent, according to the Infosys Research report titled “Enterprise AI Readiness” released on Tuesday. The report from the Infosys Knowledge Institute reveals that while companies worldwide recognise the transformative potential of AI, most are not fully prepared to integrate it into their operations.
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Also Read: Accenture Study Reveals AI-Driven Companies Outpace Competitors
The study, which surveyed over 1,500 executives from Australia, New Zealand, France, Germany, the UK, and the US, indicates that only 2 percent of organisations are fully ready across five critical dimensions: talent, strategy, governance, data, and technology.
However, the report highlights significant gaps, particularly in technology readiness, where only 9 percent of companies possess essential AI capabilities such as machine learning frameworks, prebuilt algorithms, and dynamic computing. Data-related challenges also persist, with only 10 percent reporting easy access to data for AI projects.
Also Read: TCS Launches Nvidia Business Unit to Propel AI Adoption Across Industries
To address these gaps, the Infosys report outlines five essential steps:
1. Develop a Comprehensive AI Strategy: Only 23 percent of respondents have a strong AI strategy aligned with business objectives.
2. Establish Responsible AI Governance: Just 10 percent have well-defined governance processes to mitigate risks. The report highlights that Infosys’ Responsible AI Office, part of Infosys Topaz, exemplifies this approach by establishing policies to ensure data security and mitigate risks, enhancing AI’s value for enterprises.
