81% of companies intend to increase their AI/ML investments, as per SambaNova Systems’ recent survey.
AI and machine learning (ML) will be key revenue driving components of 78% of top organisations in 2022. Only a quarter of top companies’ AI/ML initiatives have been scaled across their organisation, despite them acknowledging the importance of AI/ML activities.
The primary motivations for brands to invest in AI/ML are innovation (40%), operational efficiency (25%), and vying with competitors (22%). Also, cost savings as a KPI is used by 72% of firms to assess the performance of AI/ML initiatives, followed by revenue growth (67%) and time savings (60%).
Better access to deep learning is vital for industry innovation, according to 75% of respondents, and 81% use deep learning applications with natural language processing. However, due to obstacles like inadequate computing infrastructure, brands find it difficult to scale AI/ML.
[3 minute read]