Enterprise AI to enhance productivity by 10-40%

The Infosys Enterprise AI Readiness report reveals that while companies expect AI to drive productivity gains between 10-40%, only 2% of organisations are fully prepared to harness AI’s potential. Key hurdles include deficits in technology readiness, data access, talent, strategy, and governance. 

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The Infosys Enterprise AI Readiness report, which polled over 1,500 people in Australia, New Zealand, France, Germany, the United Kingdom, and the United States, features in-depth interviews with 40 senior executives in the United States and the United Kingdom.

According to Infosys, only 2% of businesses are prepared for corporate artificial intelligence (AI), which is expected to enhance productivity by 10-40%. This is owing to significant gaps in basic AI readiness, the report stated.

It emphasises that, while CEOs see AI as the next industrial revolution, altering business models and driving the new economy, many businesses lack the fundamental building blocks for effective corporate AI implementation.

According to the study, firms anticipate an average 15% productivity increase from their current AI projects, with some expecting up to 40% increases.

However, just 2% of organisations are fully prepared in the five essential dimensions of AI adoption: talent, strategy, governance, data, and technology. The most significant gaps are in technical preparedness, with only 9% of firms having the required AI capabilities such as machine learning frameworks, prebuilt algorithms, and dynamic computing.

Furthermore, data accuracy, processes, and accessibility are major challenges, with only about 10% of respondents reporting ease of data location and access for AI projects.