The 'Age of With' is going to disrupt businesses over the next 18-24 months: Deloitte
Deloitte India has launched a report on “The Age of With: Humans and machines”. The report highlights about companies harnessing the power of human intelligence with machine intelligence to identify unique advantages through analytics and Artificial Intelligence (AI).
Key highlights from the report:
1. State of play in the AI market:
- The current market scenario shows that easy-to-use, cloud-based AI tools and AI-equipped enterprise software are becoming popular for organisationwide AI adoption. Organisations are using AI to improve efficiency, while those adopting AI at scale are harnessing technologies to boost differentiation
- Per Deloitte’s report, State of AI in the Enterprise (third edition), organisations can be classified into three segments: Seasoned, skilled, and starters. These segments are formed based on the number of AI production deployments undertaken and measures undertaken, such as maturity shown in adopting new technologies, identifying use cases, staffing, and governance.
2. AI is enhancing organisational resilience in volatile, dynamic, and unpredictable marketplaces, while optimising performance for growth
- In the “Age of With”: Humans and machines, adopting AI organisation-wide is swiftly becoming an integral part of the corporate strategy across industries. Organisations are undertaking multiple initiatives, from setting up AI/ML COEs, training senior and mid-management on leveraging AI, and modernising data infrastructure, to effecting companywide adoption and gaining a competitive advantage.
- AI offers tremendous growth opportunities for current and future adopters, who can take a centralized federated approach and focus on integrating and scaling across functional units. Emerging risks and regulations may slow down overall adoption and innovation efforts but addressing the risks in a comprehensive manner can make the transition smoother. Designing principles and processes to actively manage AI risks can help the organisations build trust with its stakeholders.
- The “Age of With” is going to disrupt businesses over the next 18–24 months and AI adoption strategies and implementation practices will define the competitive advantage organisations gain as a result.
Speaking on the report, Prashanth Kaddi, Partner, Deloitte India said, Artificial Intelligence (AI) presents a revolution that can help companies and countries raise their level of competitiveness and sustainable advantage for products and offerings. India and Indian companies are in a fantastic position to leapfrog the rest of the world into the age of AI, that can transform us. Companies need to put in place the right strategic alignment, the right AI framework and choices, right team / ecosystem and governance, but most importantly the right culture for adoption of AI into the heart-of-the-business issues across the value chain. The “Age of With” where human intelligence augmented by machine intelligence can deliver disproportionate value is right here right now.