The process of going through pains continues to prevent many brands from fully adopting artificial intelligence despite the fact that companies recorded a high value in their investments using AI. Engaging this amazing automation technology is an effective marketing automation tool for any organization that seeks to be an insight-driven brand.
A large number of companies believe that AI is either important or very important to the internal business process. According to the report, 51% of brands invested in some sort of AI capabilities in 2017, that is encouraging but then, 55% of these companies that have invested in AI are yet to achieve any tangible generated revenue with the technology, while 43% of them revealed that it’s too early to tell whether AI has produced any real result or not.
Here are the reasons :
1. The Challenges of AI Adoption
Though AI has recorded a high success and confident rate but it is still yet to live up to its potential in the corporate world. However, about (47%) of cognitive-aware companies have difficulties in integrating cognitive projects with existing processes and systems while some complained that cognitive technologies and expertise are too expensive and some said managers seem to lack an understanding of how cognitive technologies work. AI experts are expensive and scarce. 35% of the companies that have adopted AI can’t seem to get enough expertise.AI Performs multi-variant testing & Optimization at a pace and scale not humanly possible.
Majority of companies believe in the capabilities of AI but they are faced with the problem of hiring the right people to integrate the system effectively.
2. Confidence in AI Remains High
Even with the challenges companies face using AI, optimism across the corporate sphere holds. Only a few believe that AI has been overhyped while a huge number of them believe that AI will be important to their business strategies in the future than it is now.
According to the report, cognitive-aware companies anticipate no job loss but see many new jobs being created. They believe that machines and humans will augment each other in the workplace within a short time.
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3. The Importance of Choosing the Right AI Tool
Definitely, achieving good results in the AI arena will be traced down to how companies improve the way they choose and implement their AI-powered tools. Unless companies plot their plans, deploy, and govern them correctly, AI tech will provide poor benefits at best or result in unexpected and undesired outcomes at worst.
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