The TCS AI for Business Study, a report on the state of AI adoption and business impact, found that 69% of companies use AI to drive innovation and increase revenue, rather than increase productivity or optimize costs. We found that the focus is on increasing the .
According to the survey, executives are generally positive about the impact of AI, with 57% reporting being excited or optimistic about AI's potential impact on their business.
Of the survey's respondents, 45% expect up to half of their workforce to need to use generative AI capabilities to do their jobs within three years, and another 41% expect even more to do so. We think our employees will.
A large majority (65%) believe that AI will augment and enhance human capabilities, allowing people to focus on higher-value activities that require creativity and strategic thinking.
Harrick Vin, Chief Technology Officer, TCS, said, “2023 was an exciting year with all enterprises experimenting with AI/GenAI use cases.”
According to the CTO, companies are recognizing that the path to production for AI solutions is not easy and that building an AI-mature company is a marathon, not a sprint. That's what it means.
The study also highlights the need for companies to take a strategic approach to AI adoption and develop appropriate performance metrics to measure the technology's impact on their business.
TCS itself is one of the first organizations in the industry to integrate cloud computing and artificial intelligence capabilities under its AI.Cloud unit to meet the emerging needs of its customers.
TCS surveyed approximately 1,300 CEOs and other senior executives with P&L responsibilities across 24 countries and 12 industries. About half of the companies had annual revenues between $1 billion and $5 billion, and the other half had annual revenues of more than $5 billion.
During the course of our research, we found that 65 percent of senior executives believe that competitive advantage will continue to come from humans and from creativity, intuition, and strategic thinking unlocked by augmented and assistive capabilities of AI. did. (Ani)
This report is auto-generated from ANI News Service. ThePrint assumes no responsibility for its content.
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