A recent study of senior innovation executives found that over 30% expect artificial intelligence to be a leading area of innovation in the next 3-5 years; this is a significant increase from the past when only a handful of executives considered AI to be a top innovation priority.
What this means for businesses is that they need to be prepared to adopt AI as a key part of their innovation strategy in order to remain competitive. As AI technology continues to evolve and become more powerful, businesses that don’t begin to experiment with it will fall behind. Additionally, AI is becoming more affordable and accessible for businesses of all sizes, so there is no excuse for not starting to explore its potential.
Some real-life examples of businesses that are using AI to innovate include Google, Amazon, and Facebook. All three of these companies have been investing heavily in AI research and development, and the results have been impressive. Google’s recent victory over the world’s best Go player was made possible by its use of machine learning algorithms, Amazon has been using AI to improve its product recommendations, and Facebook is using it to power its Messenger platform.
Overall, it is clear that AI is becoming an increasingly important part of business innovation. Senior executives who aren’t paying attention to it do so at their own peril.