Report Shows Many Businesses Are Quick in Implementing AI But They Are Struggling to Scale It | Kisaco Research
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Report Shows Many Businesses Are Quick in Implementing AI But They Are Struggling to Scale It

A recent survey by Cognizant and Oxford Economics reveals that while many businesses are eager to implement generative AI, they struggle with scaling it.

By Priya Khosla     August 6, 2024

Source: Digital Information World

70% of companies worry about not implementing AI fast enough, and 82% believe delays could hinder their competitiveness.

The report predicts that 13% of businesses are going to adopt AI in the next three to four years, with 46% expecting to do so within a decade. Significant investments are already underway, such as Cognizant's $1 billion allocation for AI technology over the next three years.

SVP and global practice head of AI and analytics at Cognizant, Naveen Sharma, notes that companies face hurdles in scaling AI, emphasizing the importance of understanding data foundations and necessary tech stacks. Many businesses are just thinking of adding a chatbot as an AI tool for their employees but for most companies, this isn't going to work. They should re-imagine business processes to make the impact of AI implementation faster.

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