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BIG DATA BY THE NUMBERS: SMARTER TECHNOLOGIES FUEL COMPETITIVE ADVANTAGE.

It is still early for the use of cognitive technologies and AI, but many organizations are exploring the potential it holds across a range of industries. Retail, banking, healthcare, and manufacturing are industries leading the charge to leverage AI today. At the same time, concerns persist.

AI SPENDING WILL:

Reach $35.8 billion
in 2019, an increase of

44% over the
amount spent in 2018

Note: Table made from pie chart.

GLOBAL SPENDING ON AI SYSTEMS THIS YEAR WILL BE LED BY 5 INDUSTRIES:

In retail, companies will invest
$5.9 billion this year in AI

Banking will be the second
largest industry with
$5.6 billion going
toward AI-enabled solutions

Discrete manufacturing,
healthcare, and process
manufacturing combine to
complete the top 5 industries for
AI systems spending this year

Source: IDC's "Worldwide Semiannual Artificial
Intelligence Systems" (March 2019)

Note: Table made from pie chart.

LEADING ORGANIZATIONS' INVESTMENTS IN BIG DATA AND AI ARE ACCELERATING IN ORDER TO INCREASE BUSINESS AGILITY. AMONG ORGANIZATIONS THAT ARE STEPPING UP THE PACE OF BIG DATA AND AI INVESTMENTS:

75%
cite fear of disruption from
data-driven digital competitors  75%

91.7%
say investment is required
to transform into agile and
competitive businesses           91.7%

87.8%
express urgency
to invest                        87.8%

Source: New Vantage Partners' "2019 Big
Data and AI Executive Survey"

Note: Table made from pie chart.

TOP ENTERPRISE USE CASES FOR AI TODAY

In the manufacturing industry, key use cases of AI include:

1. predictive maintenance

2. industrial robots

3. quality control

In the healthcare industry, major use cases of AI include:

1. patient data & risk analytics

2. in-patient care & hospital management

3. medical imaging & diagnostics

In retail, primary use cases of AI include:

1. in-store monitoring

2. merchandising

3. market forecasting

Source: MarketsandMarkets "100 Fastest-Growing Use Cases in Artificial Intelligence Across the World"

DESPITE ITS POTENTIAL, THERE IS A DIVIDE BETWEEN HOW TECH EXECUTIVES VIEW AI VERSUS HOW THE GENERAL PUBLIC SEES IT.

Regulation is critical
for safe development
of AI

60% General Public      60%
54% Tech Execs          54%

AI is the next tech
revolution

84% General Public      84%
91% Tech Execs          91%

AI will lead to a loss
of human intellectual
capabilities

71% General Public      71%
65% Tech Execs          65%

Source: "2019 Edelman Artificial Intelligence Survey" (Edelman
AI Center of Expertise with input from the World Economic
Forum)

Note: Table made from pie chart.

ORGANIZATIONS ACROSS ALL INDUSTRIES ARE USING AI IN A VARIETY OF APPLICATIONS, BUT ARE STRUGGLING WITH ACUTE TALENT SHORTAGES

The number of enterprises implementing AI:
* Grew 270% in the past 4 years
* Tripled in the past year

HOWEVER
* 54% view skill shortages as the
  biggest challenge facing their organization

Source: Gartners "2019 CIO Survey" and a Gartner Research Circle Survey

Note: Table made from pie chart.
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Publication:Big Data Quarterly
Date:Jun 22, 2019
Words:461
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