When generative artificial intelligence first burst upon the scene, the technology showed potential for making people’s everyday lives easier. Now, AI solutions have been developed to help enterprises optimize their operations, and here’s why you might want to consider using them in your business.
Also: How generative AI will deliver significant benefits to the service industry
Pluralsight’s AI skills report surveyed 1,200 executives and IT professionals across the US and the UK to better understand how organizations deploy AI and its effects on businesses and their employees.
The report found that implementing AI in organizations had promising results, with 97% of organizations that have already deployed AI technologies benefiting. Moreover, 18% reported experiencing increased productivity and efficiency, 13% reported improved customer service and repetitive task reduction, and 11% said AI reduced business costs.
Despite the benefits, 25% of these organizations said they don’t have plans to deploy AI, while 20% already have and 55% plan to. The hesitation stems from inadequate budget or talent required to use the new tools properly.
A majority of the professionals acknowledged that hesitation could be disastrous in the long run, with 94% of executives and 92% of IT professionals sharing that organizations investing in AI in the near future will be better able to compete, according to the report.
However, the lack of talent to properly use the new tools is an obstacle to the successful implementation of AI, and the report finds that the answer may lie in organizations helping upskill employees.
The report cites IDC research that found investments in skills and digital training of employees will be organizations’ most enduring technology investments in 2023 and 2024, even over investments in generative AI solutions.
Out of the professionals surveyed, 95% of executives and 94% of IT professionals believe that AI initiatives will fail due to a lack of employees who do not know how to use the tools efficiently, again pointing to the need for investing in talent and training.
Also: Data is the missing piece of the AI puzzle. Here’s how to fill the gap
Some ways to invest in talent and training include creating an AI skill development strategy before adopting AI technology, assessing employees’ current AI knowledge and skills, and providing hands-on learning opportunities, according to the report.