AI to Have Dramatic Impact on Business By 2020: TCS

Sixty-eight per cent of organizations use artificial intelligence (AI) for IT functions, but 70 per cent believe AIs greatest impact by 2020 will be in marketing, customer service, finance and HR, according to a new study.

According to Tata Consultancy Services (TCS), organizations with the greatest financial improvements from AI investments expect three times as many new AI-related roles by 2020 as compared to companies with smallest improvements. 

"Given the increasing digital disruption across every industry and the public sector, AI should become a key and integrated component of an organisation's strategy," said K Ananth Krishnan, Chief Technology Officer of TCS.

Eighty-four per cent of companies see the use of AI as "essential" to competitiveness, with a further 50 per cent seeing the technology as "transformative".

The study titled "Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies," polled 835 executives across 13 global industry sectors in four regions of the world -- North America, Europe, Asia-Pacific and Latin America.

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