A new survey of 2,500 C-level executives conducted by SAP in Australia, France, Germany, United Kingdom and the United States showed that nine out of 10 business leaders believe artificial intelligence (AI) is critical for their companies’ survival over the next five years.
The research highlights that with pressure on business leaders to make the right decision in the face of severe uncertainty having never been higher, the technology now exists to turn what is currently passive knowledge spread across the organisation into active intelligence – keeping the business one step ahead.
It also shows that business leaders are ready to act on this acknowledgement, revealing growing market momentum for AI-powered innovation:
- Six out of 10 business leaders polled have implemented or are planning to implement AI in the next year.
- A third of business leaders polled are planning to make serious investments (between US$500,000 and $5 million) in AI in the next 12 months.
UK specific findings:
- 88% of leaders think they could use AI to make predictive judgments on business critical decisions in the future
- 94% believe the deployment of active intelligence technologies will be a key contributing factor to their survival over the next 5 years
- 63% think that to attract the appropriate digitally native staff, it is vital they deploy active intelligence and digital assistants
- 74%of UK business leaders agree that leadership styles will have to change with the deployment of active intelligence technologies
“We want to automate half of all ERP business processes within the next three years using AI-powered functionality,” said Bernd Leukert, member of the Executive Board of SAP SE, Products & Innovation. “SAP S/4HANA Cloud is the only product in the ERP market to give companies the breadth and depth of intelligence they need to leapfrog their competitors to stay on top of their game.”