A new report from Infosys reveals $467 billion in incremental profit can be made by global organizations who optimize AI and data practices.
Artificial intelligence (AI) holds a lot of potential for all types of industries and across different sizes of organizations.
A new report released today by global IT services vendor Infosys puts a dollar figure on that potential: According to the Infosys Data+AI Making AI Real report, a total of $467 billion in incremental profit can be made by global organizations if they are able to optimize AI and data practices.
The forecast from the Infosys Knowledge Institute, which is the research division of Infosys, was based in part on a survey of 2,500 IT leaders in 13 industries across the U.S., U.K., France, Germany, Australia and New Zealand. The key challenge that the report identified is not that organizations need to start using AI, but rather they need to integrate best practices for AI — as well as data — to actually get the full benefits of the technology.
“We were surprised to find that 80% of companies put their first AI system in production in the past four years,” Mohit Joshi, president of Infosys, told VentureBeat. “AI is not new, but companies are new to deploying their own AI systems and this contributes to the basic capabilities and low levels of satisfaction we found.”
There is no shortage of analysis and industry reports that discuss the potential for AI.
A March 2022 report from Cloudera found that 77% of surveyed knowledge workers believed AI, machine learning (ML) and data analytics would benefit their organizations over the next three years.
