Artificial intelligence (AI) has been embraced by a vast majority of business leaders as a powerful force for building value—in terms of business returns and social impact. The research at the heart of this report—a survey of 305 top executives conducted by Forbes Insights, in partnership with Accenture, Avanade and Microsoft—unveils the thinking and actions already firmly rooted around data and AI, and the rewards companies leading the charge are already seeing.
The analysis of the survey data, combined with insights from conversations with top thinkers and executives, reveals an awareness of the potential benefits of AI as well as the complexity of the challenges associated with unlocking them. Executives realize that fulfilling this potential requires the courage to reimagine the business and calls for a new approach to management and decision making.
Harnessing the potential of AI requires a persevering and visionary leadership based on three foundations: the democratization of data and AI, and weaving them into the fabric of the whole organization; striking the right balance of power in machine-human collaboration; and creating a sound ethical framework for the AI-driven enterprise.
A select group of companies—the AI Leaders—are displaying the most courage and foresight when reimagining their businesses, and as a result, are growing significantly more than companies that lag behind in AI adoption. In this report, we’ll outline what separates these AI Leaders from the rest of the pack and what steps companies can take now to accelerate their AI efforts.