IFS unveils Global AI Optimism League Table
Research from IFS, the leading technology provider of enterprise cloud and industrial AI software, has revealed the Global AI Optimism League Table.
The global study Industrial AI: the new frontier for productivity, innovation and competition involved 1,700 senior decision makers from Manufacturing, Telecommunications, Aerospace & Defense, Services, Construction & Engineering, and Energy & Resources companies.
It found that optimism about artificial intelligence (AI) is a direct indicator of AI strategy maturity within their business. The study found firms between US$200-US$500mn the most optimistic about AI, while the UK and USA were the least optimistic countries. As UAE ranks 6th, the research implies that UAE is almost ahead than anticipated.
Cash isn’t always king
An easy assumption to make with AI is that the more financial resources available, the more optimism there would be about what could be done with AI. However, the research reveals that businesses with revenues of over US$500mn ranked only third in terms of optimism due to a clear polarization in strategy, data readiness, and skills.
“What we are witnessing is enterprises differentiating themselves with AI. Organizations that have established a strong data foundation, invested in skills, and embedded sustainability into their strategy are optimistic because they can see the benefits coming into view quickly. It is vital that leaders see AI as a strategy, not a tool,” affirmed Christian Pedersen, Chief Product Officer, IFS.
Factors paving the way on the smooth path to AI
Delving into what fuels optimism around AI, the research suggests that companies’ architectural readiness directly correlates with their overall optimism about the technology. Respondents who report being more architecturally ready are more likely to be optimistic about AI.
Emergence of Industrial AI for productivity, innovation and sustainability
Innovative products and services (31%) and data accessibility (30%) are the most common areas senior decision-makers expect AI to make large differences, followed closely by cost reductions (29%). Interestingly, at a country level, the USA (32%) and Germany (31%) were the only nations most likely to believe that AI will lead to consistent business growth.
