Artificial intelligence (AI) integration has become a top priority for companies looking to bolster their operational resilience in today’s unpredictable corporate environment, according to a survey by the IT service and consulting multinational firm, Accenture. The study, which encompassed 1,700 executives across 15 industries and 12 countries including India, found that 73% of companies are prioritising AI over all other digital investments.
Most of AI’s capabilities are being harnessed to improve operational stability and keep processes functional in the face of disruptions. This aids in improving decision-making, risk management and business continuity measures, according to Bengaluru-based software development firm, Acviss Technologies founder Vikas Jain. “It offers real-time data analysis, predictive modelling and automation, allowing executives to make informed decisions and respond quickly to disruptions. The ability of AI to recognise patterns and detect abnormalities improves security measures, reducing risks,” he added.
Almost 90% of the surveyed business leaders admitted to applying AI to tackle operational aspects spanning data-driven capabilities, such as finance (89%) and supply chain (88%), the report said. For instance, AI can help in automating data entry, fraud detection and risk assessment in the financial sector, while improving inventory management, demand forecasting and logistics in the supply chain, Jain underscored.
The same report also found that companies reinventing operations on the basis of AI, data, processes, talent, collaboration and stakeholder experiences managed to obtain better operating margins and double shareholder returns. They were also found to be 42% better at agile product and process innovation while reducing their energy consumption and greenhouse gas emissions by 34%.
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