As of 2020, around 20 percent of surveyed global business executives, managers and analysts stated that their organization had extensive changes to many of its business processes when incorporating artificial intelligence (AI) into its business strategy. Only a few respondents reported no changes to any business processes when AI was implemented.
Artificial Intelligence in companies
Briefly stated, the term AI describes advanced computing software which demonstrates the ability to learn, make decisions, and solve problems. These applications make the technology very appealing to companies for a wide variety of different applications. Some of the most commonly acknowledged benefits of AI include cost savings and increased productivity. For those that have already adopted AI technology within their companies, many of them believe that it will give them a competitive advantage or allow them to move into new businesses.
AI market
The global artificial intelligence software market is expected to generate revenues of around 15 billion U.S. dollars in 2019, a number which is forecast to grow to almost 120 billion by 2025. Many of the world’s biggest tech companies have invested heavily into both acquiring AI companies and developing AI technologies of their own. Each of Microsoft, IBM, Google, and Samsung have submitted thousands of AI-related patent applications as they compete for positions in the growing market.
Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020
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MIT Sloan Management Review , & BCG. (October 20, 2020). Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020 [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/
MIT Sloan Management Review , und BCG. "Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020." Chart. October 20, 2020. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/
MIT Sloan Management Review , BCG. (2020). Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/
MIT Sloan Management Review , and BCG. "Level of Change in Business Processes When Adopting Artificial Intelligence (Ai) Solutions in Organizations Worldwide in 2020." Statista, Statista Inc., 20 Oct 2020, https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/
MIT Sloan Management Review & BCG, Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020 Statista, https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/ (last visited December 04, 2024)
Level of change in business processes when adopting artificial intelligence (AI) solutions in organizations worldwide in 2020 [Graph], MIT Sloan Management Review , & BCG, October 20, 2020. [Online]. Available: https://www.statista.com/statistics/747790/worldwide-level-of-ai-adoption-business/