Artificial Intelligence Enters Its Golden Age

Look at the latest Gartner Hype Cycle for artificial intelligence, and you will see most AI elements are rounding the hype curve, and have yet to take their stomach-churning plunge into the trough of disillusionment. Talk to business leaders these days, and no one appears disappointed, yet.

survey of more than 1,000 executives, released by RELX, confirms this is the golden age of AI. Adoption, for one, has continued to climb in the last year, jumping from 48 percent in 2018 to 72 percent in 2019.

Executives, to say the least, are pumped. No less than 93 percent say that emerging technologies, including AI and its close siblings of deep learning and machine learning, are helping their businesses be more competitive. Among these respondents, 57 percent report that AI tech is helping to improve and develop products, while 54 percent report these technologies are optimizing control and collaboration.

AI may be an instrument for consolidating and reducing the workforce and operations, but it is having quite the opposite effect, the survey suggests. Close to two-thirds of executives, 64 percent, expanded the areas of their business touched by AI in the last year. A majority of businesses (56 percent) increased their data scientist and technologist headcount to support their AI tech expansion. Another 54 percent created new roles focused on emerging technology. With the increase in hiring, 54 percent of organizations were able to implement additional AI strategies.

Executives acknowledge and report they are actively pursuing education and training opportunities. A vast majority (93 percent) believe that companies should invest in the future artificial intelligence workforce through educational initiatives such as university partnerships. The majority (62 percent) of executives say their company offers AI training currently, up from 46 percent in 2018. Of those who say their company does not offer training, only about half, 53 percent, say they plan to do so in the future.

Source: Forbes



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