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Measuring the Impact of AI on 13 Global Industries


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Get insights on the impact of Artificial Intelligence and it's adoption across 13 global industries.

Published in: Technology

Measuring the Impact of AI on 13 Global Industries

  1. 1. Key Findings Based on a survey of 835 executives in companies with average revenue of $20 billion, from 13 global industries across four regions of the world Beyond the IT function, AI is most often used in customer service, sales, marketing, and finance In 12 of the 13 industries, AI is most frequently applied in the IT function The most important goal for AI initiatives across industries is 'improving product and service quality' The goal that ranked second on this list was 'helping customers get more value from the company's offerings' 100%of Energy companies use AI More than 90% of companies in five industries — Energy, High Tech, Telecom, Retail, and Automotive — use AI today AI’s greatest impact varies by industry, reflecting the technology’s wide applicability and immense potential Insurance, Consumer Packaged Goods, and High Tech outspend other industries The top industries by average spend per company were: Industrial Manufacturing, High Tech, and Travel, Transportation, and Hospitality view AI as more important to competitiveness than the other 10 No. 1 success factor is building AI systems that can’t be hacked MEASURINGTHE IMPACT OF AI Telecom companies generated the most value from AI in 2015 in terms of cost reductions How 13 Global Industries Use Artificial Intelligence The IT function is seen as the greatest beneficiary of AI by 2020 across seven industries: Banking and Financial Services Healthcare and Life Sciences High TechIndustrial Manufacturing Media, Entertainment, and Information Services Telecom Travel, Transportation, and Hospitality 20% 25%Average reduction and average revenue improvement of in the business areas where they used the technology $124 million $95 million $95 million Insurance Consumer Packaged Goods High Tech High Tech Industrial Manufacturing Travel, Transportation, and Hospitality Companies in all 13 industries view AI as more than moderately important to their competitiveness by the year 2020 Companies in seven out of 13 industries rated keeping AI systems secure against hacking as the top success factor @TCS #EnterpriseAI