Business success tied to artificial intelligence - study

New research places a link between business revenue and the adoption of artificial intelligence (AI) - with a few reservations, of course.

A report by technology consultancy Infosys, who polled 1,600 business decision-makers around the world, found that those who have implemented AI technology forecast a 39 per cent increase in revenue by 2020, alongside a 37 per cent drop in costs.

However, most businesses are yet to fully adopt AI, with only one in 10 respondents who currently use the technology believing they're utilising it to its maximum potential. About 40 per cent said many improvements need to be made before AI can be more effective in businesses.

Employees are also concerned that the introduction of AI could put their jobs at risk as companies increasingly turn to technology for a variety of tasks. 90 per cent of respondents to the Infosys survey recognised that their staff would have valid concerns about AI adoption.

"As an industry therefore, we must take necessary steps to ensure AI is developed morally and ethically across every part of society and that employees are actively engaged and provided with the necessary training to be central to this journey," said Sandeep Dadlani, president and head of Americas for Infosys.

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