Mindtree Study: Businesses Gaining Value From Artificial Intelligence Experimentation

Some enterprises lack understanding and mature data
infrastructures to make Artificial Intelligence (AI) a success

Warren, New Jersey and London (ots/PRNewswire) - Mindtree
(http://www.mindtree.com/), a global technology services and digital
transformation company, today revealed the findings of its recent
survey of AI usage across enterprises. The study found most
businesses are well underway with AI experimentation, but many still
lack an understanding of the use cases to deliver business value and
the data infrastructures for making AI a success across the
enterprise on a sustainable basis.

The survey, which gathered data from 650 global IT leaders from
key business markets, found 85% of organisations have a data strategy
and 77% have implemented some AI-related technologies in the
workplace, with 31% already seeing major business value from their AI
efforts. Organisations are achieving their vision to industrialize
AI, but many can do more to gain real business value.

Greater focus is needed on use cases that deliver business value

When implementing an AI strategy, there's a pressing need for use
cases to demonstrate business value. The survey revealed that 16% of
enterprises globally focus on a pain point and then define a use
case, with smaller organisations (13%) being less likely to focus on
the business impact compared with their larger counterparts (18%).
With all the pressure to harness AI, many organisations are
experimenting but not all have found the formula to deploy at scale
and add significant value.

The survey found there are certain business functions such as
sales (35%) and marketing (32%) gaining the most value from AI, as it
accelerates the delivery of improved customer experiences. The most
popular technologies deployed by global organisations are machine
learning (34%), chatbots (34%), and robotics (28%).

Success with AI means merging rapid experimentation,
organisational agility and skills

AI is already delivering measurable business benefits, but the
majority of enterprises have yet to find a formula for repeatable
success. An important requirement for enterprises to successfully
start their AI journey is to experiment with different use cases and
technologies with agile and rapid innovation methodologies. Just over
a quarter (29%) of the enterprises surveyed said they are agile
enough to rapidly experiment with AI, with large organisations (39%)
having an edge compared to their smaller counterparts at 19%.

Progressive enterprises are spending 25% of their IT budget on
digital innovations with a focus on use case definition,
experimentation, and operationalization for scale. Businesses also
understand the need to upgrade and refresh their skills to capitalize
on AI. 44% say they will hire the best talent available externally,
30% have partnerships with academia, and 22% run hackathons to solve
data challenges and identify potential candidates.

The AI-led enterprise - it's all about data

Finding the right use cases and building alignment and support for
AI initiatives are critical, but data is the make-or-break variable
when it comes to scaling AI across the enterprise. Businesses need to
modernize their data infrastructure, architectures and systems, along
with an overarching data strategy and robust data governance
processes. The survey revealed more than half (51%) of large
enterprises say they don't fully understand the data infrastructure
needed to implement AI at scale, while 6 out of 10 organisations
believe their data infrastructure and architectures are immature and
not well positioned to deliver business value.

"The potential of AI to disrupt, transform and rebuild businesses
is clearly felt in the C-Suite, even if it is not yet fully
understood," said Suman Nambiar, Head of Strategy, Partners and
Offering for Digital at Mindtree. "Business and technology leaders
are increasingly expected to prove business value, unlock the power
of their data, and define their AI strategy and roadmap. To thrive in
the Digital Age, businesses must be agile and unafraid of failure.
They must also constantly refine their understanding of how AI will
give them a competitive edge and deliver real and measurable business
value to maximize their investment in these disruptive and powerful
technologies."

Methodology

The online survey was conducted by Censuswide and the data was
gathered from 650 global IT leaders, with an equal breakdown of 325
respondents from the UK and US. The sector breakdown as follows;
Manufacturing (100), FS (100), Retail (100), Travel (100), FMCG
(100).

For more information and complete report, please click
https://www.mindtree.com/ai-readiness-report-2019

About Mindtree

Mindtree (NSE: MINDTREE) is a global technology consulting and
services company, helping enterprises marry scale with agility to
achieve competitive advantage. "Born digital," in 1999 and now a
Larsen & Toubro Group Company, Mindtree applies its deep domain
knowledge to 350+ enterprise client engagements to break down silos,
make sense of digital complexity and bring new initiatives to market
faster. We enable IT to move at the speed of business, leveraging
emerging technologies and the efficiencies of Continuous Delivery to
spur business innovation. Operating in more than 15 countries across
the world, we're consistently regarded as one of the best places to
work, embodied every day by our winning culture made up of 21,000
entrepreneurial, collaborative and dedicated "Mindtree Minds."

To learn more, visit www.mindtree.com or follow us @Mindtree_Ltd

All product and company names herein may be trademarks of their
registered owners.

ots Originaltext: Mindtree
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Contact:
, contact:
INDIA
Rahul Nag
Mindtree Ltd
+91-9958644228
Rahul.Nag@mindtree.com

UNITED STATES
Erik Arvidson
Matter
+1-978-518-4542
mindtree@matternow.com

EUROPE
Ollie Bennett / Zoya Mufti
Hotwire
+44(0)207-608-8343
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