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Technology, Media
and Telecommunications companies perceive AI as more critical to their future
than any other industry sector, Deloitte shares in its latest report, “State of
AI in the Enterprise.”
The Fifth Edition
of the report surveyed 2,620 global business leaders. Of those, 72% in TMT
companies strongly agree that AI is very important to their ability to stay
competitive over the next five years, 12 percentage points higher than any
other industry.
But business
leaders in every industry, from retail to finance and healthcare, also deem AI
to be critical to success over the next five years.
TMT companies
recognizing the importance of AI far more than any other industry should come
as little surprise. The first brands that come to mind in the industry are
often digital natives such as Google, Amazon and Facebook — brands that are
often considered synonymous with AI sophistication since AI is used extensively
in their commercial products and services (many of which are foundational
enablers across all industries).
However, that’s not
the whole story. Some of the legacy brands within the TMT space, such as
AT&T and Hearst, are also among the most significant. Survey data indicates
that telecommunications and media companies tend to be the furthest along at
embracing AI.
“This maturity is
likely attributed to telecommunications’ longstanding focus on operational
efficiency and, for media companies, the rapid uptake of digital marketing
techniques,” Deloitte says. “Customer acquisition and retention efforts have
also driven the development of AI capabilities for telecommunications and media
companies and are reflected in the prevalence of these use cases across all
sectors.”
Regardless of
industry, Deloitte also reports that the general workforce is increasingly
optimistic about co-working with AI. Eighty-two percent of respondents (who, as
a reminder, are executives) indicate that their employees believe that working
with AI technologies will enhance their performance and job satisfaction.
The report states
that many organizations have begun to realize the benefits of using AI to
augment the workforce, rather than replace as many jobs as possible. Many
organizations are taking action to support a human-machine collaboration strategy:
43% of all respondents reported their organization has appointed a leader
responsible for helping workers collaborate better with intelligent machines.
Also, 44% of all respondents reported using AI to assist in decision-making at
senior-most levels.
Despite this, data
also shows a significant gap in further actions needed to enable the hybrid
human-machine workforce. Only 21% of all respondents reported actively
educating workers on when to apply AI most effectively, 25% reported providing
access of user-friendly AI systems to nontechnical/nonspecialized workers, 30%
reported including workers in participative design of AI, and 36% reported
redesigning organizational practices in light of a mixed human and machine
workforce.
An important
element highlighted by the report is that if AI is to be scaled across an
organization, then leaders within that business need to foster trust in
algorithms.
The survey found
that “risks around lack of explainability and transparency in AI decisions,
data privacy or consent mismanagement, and safety concerns about AI systems,
among others, all loom large as ethical risks that concern organizations.” In
fact, 50% of respondents cited management of AI-related risks as one of the top
inhibitors to scaling AI projects.
“Trustworthy AI
ultimately hinges on ensuring that rigorous processes as well as checks and
balances are in place,” Deloitte continues. “To that end, organizations can
often achieve better outcomes when they adopt an ethical AI framework that
aligns with trustworthy AI principles.”
A final noteworthy
point from the report is that technology and talent acquisition are no longer
separate when it comes to AI. Given that even the most advanced organizations
are still early in their transformations, a majority of organizations still
prioritize bringing new AI talent into the business from outside, rather than
retraining existing workers (53% versus 34%).
A significant
majority of the survey respondents acquire AI as a product or service (65%)
rather than attempting to build their own AI solutions in-house (35%), leaning
particularly on off-the-shelf solutions at the beginning of their journeys.
“Organizations need
to strategize their approach to AI based on the skillsets they have available,
whether they derive from humans or pre-packaged solutions,” the report advises.
“Companies must develop their AI strategies in a tight talent market, with
growing off-the-shelf platforms, tools and accelerators that can jump-start a
company’s transformation.”
Beena Ammanath,
executive director of the Deloitte AI Institute, says: “The report outlines how
AI can propel businesses beyond automating processes for efficiency to
redesigning work itself. While organizations face the challenge of middling
results, it is clear successful AI transformation requires strong leadership
and focused investment, a through-line consistently evident in our annual
research.”
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