Furthermore, among organisations that have implemented AI at scale, more than three in five (63 per cent) said that AI has not destroyed any jobs in their organisation.
Alongside the trend towards job creation at management level, the report provides further evidence that organisations see AI as a means of reducing the time employees spend on routine and administrative tasks to enable them to deliver more value.
The majority of respondent organisations (71 per cent) have proactively initiated up-skilling/re-skilling of employees to take advantage of their AI investments. For those who have implemented AI at scale, the vast majority believe that AI will make complex jobs easier (89 per cent) and that intelligent machines will coexist with humans within their businesses (88 per cent).
“What we really want to do is to use humans to the best of their capabilities,” said Michael Natusch, Global Head of AI at Prudential.
“AI is taking away the time humans previously spent on repetitive issues and allowing them to focus on where human intelligence can drive value – for both themselves and for customers.”
AI adopters focused on the customer experience
The customer experience is a big focus of AI adopters: 73 per cent think AI can increase customer satisfaction scores and 65 per cent believe it could reduce future customer churn.
If firms tackled both problems simultaneously, they could see higher business benefits. For instance, those implementing a large number of “must do” use cases are able to reduce churn by up to 26 per cent on average.
Traditional sectors leading the charge
Established and highly-regulated sectors are leading on AI innovation: 49 per cent of telcos, 41 per cent of retailers and 36 per cent of banking institutions have seen the highest implementation of AI at scale, while automotive (26 per cent) and manufacturing (20 per cent) industries are those currently with the lowest levels of utilisation among companies implementing AI.There is also a stark contrast across regions, as well as sectors. Among AI implementers, more than half (58 per cent) of Indian companies are already using AI at scale, with Australia (49 per cent) close behind.
European countries, including Spain (31 per cent), the Netherlands (24 per cent) and France (21 per cent) are further down the list of those using AI technologies, indicating firms in these markets are not yet ready to adopt the technology.
Ron Tolido, Chief Technology Officer for the Insights & Data Practice at Capgemini, said, “AI has the capacity to revolutionise every business in every market sector; its potential is broad and unlimited.”
But there is a large contrast between those who are rolling out applied AI solutions at scale versus those who are simply trialing the technology.
“It’s also quite revealing that organisations are focusing more of their efforts on the more complex AI projects and missing out on simpler projects that could drive quicker returns. Organisations, especially those not yet implementing AI at scale, should focus on those low-complexity, high benefit projects to quickly and better leverage the power of AI.”
Getting started with AI
- Manage the key technology and people challenges;
- Pinpoint where AI can create the most significant, long-term advantage;
- Combine top-down vision with bottom-up execution;
- Prepare the organisation.
A copy of the report can be downloaded here.