“Artificial intelligence is reshaping business—though not at the blistering pace many assume. True, AI is now guiding decisions on everything from crop harvests to bank loans, and once pie-in-the-sky prospects such as totally automated customer service are on the horizon. The technologies that enable AI, like development platforms and vast processing power and data storage, are advancing rapidly and becoming increasingly affordable. The time seems ripe for companies to capitalize on AI. Indeed, we estimate that AI will add $13 trillion to the global economy over the next decade.
Yet, despite the promise of AI, many organizations’ efforts with it are falling short. We’ve surveyed thousands of executives about how their companies use and organize for AI and advanced analytics, and our data shows that only 8% of firms engage in core practices that support widespread adoption. Most firms have run only ad hoc pilots or are applying AI in just a single business process.
Why the slow progress? At the highest level, it’s a reflection of a failure to rewire the organization. In our surveys and our work with hundreds of clients, we’ve seen that AI initiatives face formidable cultural and organizational barriers. But we’ve also seen that leaders who at the outset take steps to break down those barriers can effectively capture AI’s opportunities.”