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Deloitte released the fifth edition of its State of AI in the Enterprise research report today, which surveyed more than 2,600 global executives on how businesses and industries are deploying and scaling artificial intelligence (AI) projects.
Most notably, the Deloitte report found that while AI continues to move tantalizingly closer to the core of the enterprise – 94% of business leaders agree that AI is critical to success over the next five years – for some, outcomes seem to be lagging.
For example, 79% percent of respondents reported achieving full-scale deployment for three or more types of AI applications, which is up from 62% last year. But the percentage of organizations in the “underachiever” category – those who have deployed a high number of AI projects but have low outcomes – rose from 17% last year to 22% this year.
That may seem to be a contradiction, but according to Beena Ammanath, executive director of the Global Deloitte AI Institute, it’s not a surprise. What is a surprise, she added, is how quickly the AI landscape is changing – to the point that what began as an every-other-year Deloitte report is now created annually.
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“The AI space is evolving so fast and the technology is growing so rapidly,” she said. The fact that many companies are underachieving with the outcomes of their AI investments “tells you how fast the technology is being deployed.” The investment in AI is there, she explained, but there is so much happening in AI research and applications that many are unable to keep pace as far as gaining value.
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