AI technology is accelerating automation at lightning pace. The excitement among companies to leverage Artificial Intelligence and associated technologies, to transform business processes, reinventing how they run, compete and innovate is palpable.
Artificial intelligence (AI) has worked its way into a variety of industries, from the obvious (autonomous vehicles) to the hidden (anti-money laundering due diligence). But while organizations are clearly recognizing the value associated with incorporating AI into their business processes, they also are encountering a number of challenges with integrating this new intelligence into their operational processes. The value of using algorithms to unmask hidden patterns and then correlate findings with other seemingly unrelated variables to create real “intelligence” is becoming increasingly clear with each completed proof-of-concept (POC) project. But it is the larger, organization-wide deployment of AI that will generate the return on investment (ROI) that companies large and small have been seeking.
To fully access the operational and economic benefits of AI, however, organizations are realizing that, in most cases, enabling AI is not a plug-and-play proposition. Significant time, resources, and capital usually must be deployed, and in most cases, internal company teams are not experienced enough with AI, nor do they have the cutting-edge data science skills to adequately embark upon a truly transformational AI implementation journey. We forecasts that the worldwide market for AI services will grow from $10.1 billion in 2017 to $188.3 billion by 2025. Key service categories will include application integration, training, support and maintenance, customization, and installation services.