March 16th, 2017 by Sam Del Rowe

84 percent of companies view the use of artificial intelligence technology as “essential” to competitiveness, according to Tata Consultancy Services’ Global Trend Study. The study, which polled 835 executives representing companies from industries including automotive, banking, energy, healthcare, life sciences, industrial manufacturing, and retail, also found that artificial intelligence is permeating many company areas.

Perhaps unsurprisingly, IT departments are currently the biggest adopters of artificial intelligence capabilities, with 67 percent of respondents using the technology to detect security intrusions, resolve user issues, and provide automation. However, 32 percent of companies believe that by 2020, the greatest impact of artificial intelligence will be in sales, marketing, or customer service.

With regard to the debate about the impact of artificial intelligence on jobs, the study indicates that artificial intelligence is being used to improve employee productivity by automating certain processes, enabling employees to devote more time to strategic business needs  such as creating services that were not previously available.

“As companies begin to gain a better understanding of AI’s application for business, they will realize the significant impact of this transformative force. This is reflected in our Global Trend Study, which shows that forward-thinking companies are beginning to make major AI investments,” K Ananth Krishnan, Chief Technology Officer of TCS, said in a statement. “Given the increasing digital disruption across every industry and the public sector, AI should become a key and integrated component of an organization’s strategy.”

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