86% of executives deployed AI to enhance revenue streams
69% of businesses are more focused on using AI to boost innovation and increase revenue than on productivity improvement and cost optimization: Report
New Delhi: Over 98 out of 10 (86 per cent) of senior business leaders globally have already deployed artificial intelligence (AI) to enhance existing revenue streams or create new ones, a new report revealed on Wednesday.
According to Tata Consultancy Services (TCS), 69 per cent of businesses are more focused on using AI to boost innovation and increase revenue than on productivity improvement and cost optimisation.
"2023 was a year of exuberance, with every enterprise experimenting with AI/GenAI use cases. We are now entering an era of wide-and-deep enterprise AI adoption," said Dr Harrick Vin, Chief Technology Officer, TCS.
"Enterprises, however, are realising that the path to production for AI solutions is not easy, and that building an AI-mature enterprise is a marathon, not a sprint," he added.
The report surveyed nearly 1,300 CEOs and other senior executives across 12 industries and 24 countries.
According to the report, executives were generally positive about the impact of AI, with 57 per cent reporting excitement or optimism about the potential impact of AI on businesses.
About 45 per cent expected up to half of their employees will need to use generative AI capabilities to do their jobs in three years -- and another 41 per cent thought even more would do so.
