86% of Business Leaders Have Deployed AI for Enhanced Revenue - TCS Global AI Study
Tata Consultancy Services (TCS) released a study revealing that 86% of senior business leaders have already implemented Artificial Intelligence (AI) to enhance revenue streams or create new ones. The 'TCS Al for Business Study' covered 24 countries and 12 industries. Majority of businesses are focusing more on innovation and revenue generation. Executive expectations reveal up to half may require generative AI capabilities to perform their jobs in three years. Most believe AI will augment human capabilities. However, only 4% have fully transformed their business with AI, and 24% are still in the initial exploratory phase. Barriers to business success include existing IT infrastructures and customer expectations. A strategic approach to AI adoption and right performance indicators are crucial.
Key Highlights
- 86% of senior business leaders have already deployed AI.
- 69% are more focused on AI for revenue, innovation, compared to productivity or cost.
- 45-48% of employees might need generative AI capabilities in three years.
- Majority believe AI will augment human capabilities.
- Less than 4% have transformed their business with AI.
- 24% of businesses are yet to move beyond initial exploratory phase