5 things to know about AI

Artificial intelligence (AI) is a constellation of technologies harmoniously enabling machines to act, learn and understand with human-like levels of reasoning. Maybe that’s why everyone’s definition of AI is different: It’s so much more than just one thing.

84% of C-suite executives believe they must embrace AI to meet growth targets.

Machine learning and natural language processing are at the heart of AI. When paired with analytics and automation, these evolving innovations help companies improve customer service, optimize supply chains and achieve a seemingly endless number of business goals. And, fun fact, it can even help restore coral reefs.

AI is an extension of human capabilities, not a replacement. That’s why human-machine collaboration is more important than ever. With the right applications, AI packs a powerful transformational punch—and it will forever change how we work and live on a global scale.

Produced by WIRED Brand Lab for Accenture | The symbiotic relationship between cloud computing and AI is driving great advancements across all industries. Accenture's Annette Rippert speaks with a child, a college student and an expert from MIT to explain how the cloud stores vast amounts of data, which then can be analyzed and classified to help us make better-informed decisions.

A critical source of business value—when done right

AI-driven automation cuts costs and yields new levels of business process consistency, speed and scalability. Some Accenture clients reap up to 70% in time savings, and they see three times the return on AI investments compared to those stuck in the pilot stage. No wonder 84% of C-suite executives believe they must embrace AI to meet growth targets.

 Agility and competitive advantage

Thanks to machine and deep learning, AI applications can learn from data in near real-time, accurately analyze new information and adapt. When scaled, AI is a lynchpin to business survival: Three out of four C-suite executives believe that they’ll risk going out of business if they don’t scale artificial intelligence in the next five years. Bottom line: The stakes are high to scale AI.

A snapshot of the benefits of AI

AI dramatically improves resource use across your organization, resulting in significant cost reductions. It also automates complex processes and minimizes downtime by predicting maintenance needs. By transforming how work is done, AI exponentially boosts productivity.

Plus, machine learning provides 360-degree customer insights for hyper-personalization. From 24/7 chatbots to faster help desk routing to virtual agents, businesses can use AI to curate dynamic, data-propelled customer experiences that drive growth, retention and overall satisfaction.

AI ethics

We define “responsible AI” as leveraging artificial intelligence in ways that empower employees and businesses and fairly impact customers and society. Ultimately, our aim is to allow companies to foster trust and scale AI with confidence.

The future of AI

According to our research, AI: Built to Scale, 84% of executives believe they need to use AI to reach their growth objectives. Meanwhile, 76% report struggling with how to scale AI.

Until now, there wasn’t a blueprint for pushing past proof of concept to production and scaling. We’re at an inflection point, and it’s imperative companies take bold steps to champion AI and scale successfully.

To discover more about how AI is reshaping business, explore the full story here.