New Survey Shows Enterprise AI Adoption Being Driven by Need for Increased Business Efficiencies and Improved Customer Service

By Editor On Nov 9, 2021

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Ensure explainable and trustworthy AI applications, which turn out to be the main concerns of survey participants

AUSTIN, TX / ACCESSWIRE / November 9, 2021 / CognitiveScale, the enterprise AI company that empowers businesses to thrive with intelligent, transparent and trustworthy AI-powered digital systems, today announced the results of its AI induction study among 700 C-level executives in the US on their use of AI in the USA their organizations are known. The survey found that trust is a top priority when adopting AI and that increasing business efficiency and improving customer service are the main drivers for adopting AI in companies. This is an important change as companies look to AI solutions to influence business outcomes across all lines of business.

Artificial intelligence (AI) can increase operational efficiency and promote a personalized service experience if done well. Too often, the intelligent systems organizations rely on to achieve these results are ineffective and contain unreliable data, hidden bias, and inexplicable results.

Trustworthy AI systems ensure that the data and models used are representative of the real world and that the models are free of inherent biases that can skew decision-making and reasoning, which can lead to decision-making errors and unintended consequences. For example, AI in healthcare has a profound impact on patient outcomes, service and operating costs. AI enables personalized interventions that not only improve engagement and loyalty, but also reduce costs, e.g. B. Hospitalization due to negligent care. The same can be seen in other industries, including financial services.

The key results of the survey include:

Increasing the efficiency of business processes was identified by 40% of those surveyed as the greatest benefit of using AI. 36% of respondents named improving customer service as the biggest benefit.
31% of those surveyed would like to prevent too much data with too little insight from being available through the introduction of AI. 27% of respondents want to automate manual business processes and 23% want to eliminate a bad link between discovery and business activity.
The most important AI skill for respondents is:
- Explainable and trustworthy (34%);
- Easily scalable (25%); and
- Delivers specific or personalized insights (24%).

“As the survey results show, there is a big shift in how organizations view the adoption of AI and machine learning with a keen eye for improving business results across all lines of business,” said Robert Picciano, CEO of CognitiveScale. “The data also show that explainable and trustworthy AI is crucial.

The story goes on

Further results of the survey are:

The majority of respondents (92%) plan to adopt AI to solve business problems within the next 18 months; with many of those surveyed (84%) already using AI or machine learning to some extent.
Ninety percent of respondents have the necessary access to data to successfully use AI, which is crucial because data is at the core of an AI project.
A quarter of respondents (25%) named transparency when using AI or machine learning as the biggest challenge; 23% identified managing multiple technologies as a challenge.

More information about the results can be found here.

About CognitiveScale
CognitiveScale pioneered the concept of “Trusted AI” and paved the way for the responsible development of Enterprise AI worldwide. Backed by 164 AI patents, the Cortex platform enables data scientists and citizen developers to create, understand and analyze intelligent, transparent and trustworthy AI systems with any data and in any cloud. By making it easier to develop, deploy, and manage AI systems, CognitiveScale is revolutionizing the way companies in various industries – healthcare, financial services, insurance, and digital commerce – interact with customers, optimize services, and bottom line, achieve their goals – and that all while protecting against business risks.

Headquartered in Austin, Texas, CognitiveScale is recognized by the World Economic Forum for its positive impact on the economy and society through AI with active investments from Norwest Venture Partners, Intel Capital, IBM Watson, M12 (Microsoft Ventures) and USAA. To find out more, visit www.cognitivescale.com and follow us on LinkedIn and Twitter at @CognitiveScale.

Media contact
Escalate PR for CognitiveScale
CogScale@EscalatePR.com

SOURCE: CognitiveScale

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