Despite the buzz surrounding artificial intelligence, a recent study has found that companies embracing it are still few and far between, with data privacy, regulation, and IT infrastructure posing major hurdles to its widespread use.
The global survey conducted by “MIT Technology Review Insights” and Australian telecommunications company “Telstra,” involving over 300 business leaders, revealed that only 9% of them were extensively using artificial intelligence.
While most leaders were optimistic about the potential of artificial intelligence and anticipated its expanded use, current figures show that even those enthusiastic about this technology and implementing it in their companies have not fully capitalized on its capabilities.
Stella Solar, Director of the National Center for Artificial Intelligence in Australia, stated in the report: “There is a misconception about how easy it is to operate mature and ready artificial intelligence for enterprises.” She added that its adoption may require companies to “improve data quality and capabilities, privacy measures, artificial intelligence skills, and implement safe and responsible artificial intelligence governance at the enterprise level.”
She emphasized that “other elements such as application design, data connectivity, business operations, company policies, and more still need to be worked on.”
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