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Monday, 3 October, 2022

MIT Technology review CIO vision 2025: Bridging the gap between BI and AI analysis

Leading companies are starting to see healthy returns on their AI investment. This comes from the latest MIT Technology Review/Databricks report. CIO vision 2025: Bridging the gap between BI and AI report is based on statistics and interviews from leading 600 CIOs around the world.

Report ideal for

  • Leaders and managers – CIOs, CTO’s, IT leaders
  • AI experts and enthusiasts – Data Scientists, ML engineers, AIOps engineers, data engineers, MLOps engineers

Key points

  • 94% of companies surveyed are adopting AI in some capacity today
  • 14% said they aim to be AI-driven by 2025
  • 6% not using AI
  • 72% say if AI fails, it is down to data
  • Most are looking to improve processing speeds, governance, and quality of data
  • 96% say that scaling AI and machine learning use cases to create business value is their top priority for enterprise data in the next 3 years
  • 85% will spend more on data governance
  • 69% will spend more on existing platforms
  • Industries investing heavily in AI are retail/consumer goods, automotive/manufacturing and healthcare
  • 92% say Multi-cloud and open standards are important
  • 61% will use AI in sales
  • 67% will use AI in product development
  • 71% will use AI in IT
  • 30% say AI will bring increased revenue
  • 26% increased efficiency
  • 16% reduced costs
  • 14% better security
  • 8% faster product development
  • 6% improved customer experience

Lots more…

Critical thinking and insights – For leaders, managers

Most companies are using and exploring AI in many ways throughout organisations. Many are getting healthy returns on their investment through efficient processing and automation. The key to continual growth is to invest in infrastructure and skills throughout. The companies that are reducing AI failure are the ones that focus on domain application, apparent problem solving, as well as keeping an eye on data quality and governance. Many excelling companies are adopting AI throughout the organisation to lever investment and maximise the potential.

Critical thinking and insights – For Data engineers, MLOps

One of the key areas highlighted in the report was the need for sound data management and governance. Most sites have poor data as the reason for AI issues. 96% of businesses are scaling AI and ML opportunities by focussing on use cases to create business value. The key to the next few years will be democratising the data across the organisations. As data volume and speed increases, MLOps is going to play an important role in harnessing the power of AI as well as extract value in the future.

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Please note

I have no affiliation to the companies/technology mentioned. This analysis is 100% independent for the benefit of the data/business community.

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