INTELLIGENT BRANDS // Software for Business

Jepson Taylor , Chief AI Strategist at Dataiku

Over 70 % of senior AI professionals see a positive return on investment for money spent on data science , analytics , and AI initiatives , with over half , 54 % seeing at least a 2x return and 5 % seeing a return greater than 10x .

“ Facing high expectations and unprecedented market attention , AI and data science is delivering ,” said Jepson Taylor , Chief AI Strategist at Dataiku .

“ AI Pioneers are seeing clear bottom-line results from AI that would impress any CFO . Our survey reveals that where they need the most help is the right AI tools and platforms to convert their mountains of data into market-moving results faster than ever while protecting against potential risk .”

The findings confirm that AI , including Generative AI , is now experiencing an impactful level of business results , matching its rapid rate of adoption .

Dataiku and Databricks surveyed over 400 global senior AI professionals across a range of enterprises and industries in early June 2023 to explore AI adoption and perceptions .

A majority agreed that AI had made its value clear across their organisations :

• Three in five said companies need AI to realise the full value of data .

• The roadblocks to mass adoption are mostly operational .

• AI leaders saw cost and lack of business case as the least important barriers to delivering more value from AI .

• Instead , they cited issues like data quality and speed of deployment as the top blockers to AI value .

• AI leaders struck a note of caution , with more than half , 55 % reporting that fears around AI are justified .

• Respondents are more worried than excited about the future of AI . 55 % called for official regulation for AI .

The survey found that businesses are investing in AI resources , with half , 47 % reporting AI tools budgets over $ 5 million for the next year and one in five , 17 % reporting budgets over $ 20M . In addition , two in three , 64 % plan to use Generative AI or Large Language Models , LLMs over the next year , and 45 % are already experimenting with it .

“ These findings demonstrate the significant interest in generative AI but also the accompanying challenges , from data access and privacy to regulation ,” said Prem Prakash , Head of AI Marketing at Databricks .

“ As we navigate these challenges , our shared mission with Dataiku stands firm : to democratise data and AI , enabling every organisation to build their generative AI solutions securely and cost-effectively .”

The survey also compared AI Pioneers , those who have embedded or implemented AI and seeing strong returns , to AI Laggards , those still exploring or experimenting with AI or seeing lower returns , with clear divisions between groups . p

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