CHART OF THE DAY
the health strategist
Joaquim Cardoso MSc
March 20, 2023
AI maturity: Why it matters
There is a growing consensus that AI is absolutely essential to competitive advantage
It’s no surprise that in 2021, 46% of CEOs (of the world’s 2,000 largest companies by market capitalization) mentioned AI on their earnings calls.2
Our survey of over 1,600 C-suite executives and data-science leaders from the world’s largest organizations found that nearly 75% of companies have integrated AI into their business strategies and reworked their cloud plans to achieve AI success.
And companies are putting those plans into practice:
- Nearly a third (30%) of all AI pilot initiatives are subsequently scaled to deliver wide-ranging outcomes,
- from accelerating R&D timelines for new products to enhancing customer experiences.
The companies leading the way are already seeing the results — 42% said that the return on their AI initiatives exceeded their expectations, while only 1% said the return didn’t meet expectations.
AI, accelerated With early successes building confidence in AI as a value-driver, we estimate that AI transformation will happen much faster than digital transformation — on average, 16 months faster (Figure 1).
The estimate is derived from a natural language processing analysis of investor calls of the world’s 2,000 largest companies (by market cap), from 2010 to 2021, that referenced “AI” and “Digital” in tandem with “business transformation,” respectively.
Data was sourced from S&P earnings transcripts
Originally published at: The Art of AI Maturity