Additionally, 21% of respondents said AI can play a central role in driving innovation, enabling the development of new products, services and business models, particularly in sectors such as finance, healthcare, manufacturing and marketing.
“Approximately 33% of organizations focus on product development, while 29% leverage AI for customer service through chatbots and robotic process automation (RPA). Marketing teams, representing 19% of companies, use AI for trend analysis, while 13% apply AI to improve supply chain management. Financial planning, although less important (6%), benefits from the efficiency-enhancing capabilities of AI,” the report adds.
Based on responses from 1,000 professionals and in-depth interviews with 50 industry experts, the report highlighted a significant shift in how businesses are integrating AI into their strategies.
While AI has brought many benefits, the report also highlights some major challenges.
“Approximately 34% of organizations face a critical shortage of AI-trained staff, hindering their ability to fully realize the potential of AI. This skills gap highlights the need for better AI training and continuing education programs. In fact, 31% of organizations have started mentoring initiatives to help develop talent,” the report states.
The impact of AI varies by sector; in M&A, 28% saw benefits in personalized campaigns, but data privacy remains a barrier for 22%. The IT and augmented reality sectors report improved productivity (44%), but face a talent shortage.
“In finance, AI improves risk management, although 18% of them face regulatory challenges. Healthcare has seen advances in diagnostics, but ethical concerns remain important for 18% of professionals. In manufacturing, 23% recognize the benefits of process optimization through AI, but 21% struggle. with the integration of existing systems,” he said.
Qualitative interviews with industry professionals reveal that transparency in AI decision-making is crucial, with 21% expressing concerns about the “black box” problem.
“There are also ethical concerns, with 20% of respondents mentioning algorithmic bias and 22% expressing concerns about data privacy. These questions show the need for a responsible approach.
According to Pratik Modi, dean of the School of Management at BML Munjal University, AI improves human-machine collaboration.
“As organizations embark on this new era, the report’s findings offer a roadmap for integrating AI while prioritizing ethical standards and fostering human creativity,” the report states.
