Let’s get real about AI
A playbook for winning in the age of Artificial IntelligenceMonday, 11 February 2019
There is an executive-level consensus on the potential competitive power of Artificial Intelligence; or as one of our interviewees put it “bigger than splitting the atom”. However, just like the early internet and indeed quantum mechanics, lots of people have no idea in practice what it is nor what it could mean. Many corporate decision makers remain in the dark as to how to harness AI in aid of a competitive advantage. We are shedding unique light on this…
- 71% of our respondents say that they have adopted AI already in their businesses
- Spending on AI has been huge: $219bn was spent by businesses on AI globally in 2018, equivalent to c.7% of total enterprise IT spend
- ...But we see that executives fear the competitive threat that AI brings: 86% think they have missed business opportunities by not using AI sooner
- 85% think that new entrants will overtake their competitive position due to their use of AI
But there’s a way forward. Getting to grips with AI requires first and foremost to understand what AI is in practical terms, and appreciating a fundamental truth: AI is about data and analytics. Armed with a few fundamental principles around data and analytics, one may begin to think through, and exploit, AI’s potential.
We can help you do this. Our ground-breaking research demystifies AI, and sets out how to get started with your data infrastructure and advanced analytics capability. The report walks you through our “AI playbook” – a critical first step into the light. Ignore the AI revolution at your peril.
- James Walker, Partner and Global Head of Analytics
- David Zdravkovic, Associate Partner and Head of Analytics
Experts in this insight:
Placing the right bets
Retailers have a variety of levers at their disposal to drive commercial performance – from price and promotions to range and space
Making every purchase count
Analytics helps us answer a retailer’s toughest questions, especially when multiple factors – such as price, SKU mix, and promotions – have to be addressed together