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    Ig Ai Iq Research Infographic Enus

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    Ig Ai Iq Research Infographic Enus

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    © All Rights Reserved
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    of 1

    AI IQ

    Insights on GiIIG
    GGii Artificial
    Intelligence in the
    Enterprise
    Select findings from the global 2023 study with 1,000 decision-makers.

    Among business leaders, 73% feel pressure


    to increase AI and machine learning (ML) adoption.

    Three challenges are holding them back.

    Ensure AI and ML are built


    1 on a high-quality data foundation. How?
    • Maximize data usability by operating with structured, clean, coherent data.
    • Leverage AI and ML without the burden of managing additional tech stacks or data integrations.
    • Overcome significant constraints of legacy systems.

    Establish clear use cases


    2 and a strategy to move quickly. How?
    • Focus on the top leadership concerns: becoming more competitive, improving the employee
    experience, and addressing skills gaps.
    • Tailor AI and ML deployments to relevant, impactful use cases throughout the organization.
    • Humanize AI and ML by keeping the human in the loop and using these technologies to elevate
    and cultivate the best talent.

    3 Overcome the skills gap. How?


    • Lean on experienced partners to address the skills issue—whether that partnership takes place
    before, during, or after the deployment.
    • Acquire AI and ML solutions that are transparent and reliable—so internal teams can use them with
    confidence and achieve high-impact outcomes.
    • Empower decision-makers to build a “right way” strategy as opposed to a “right now” strategy—
    leading to simpler management and more effective use over time.

    The data is everything.


    Poor data foundations prevent many companies from leveraging AI and ML.
    Organizations need access to high-quality data, as well as to eliminate data
    silos and work from a single source of truth.

    If you don’t have an AI strategy, people will feel like this is not a company for the
    future. I would say that there’s no public company that is not preparing itself to be
    asked each quarter what its AI strategy is, even if it’s not its core business.
    Spiros Margaris, Top Global Influencer in AI and Fintech

    Findings at a glance.

    Seeing the challenges.


    • Three-quarters of decision-makers agree that there are “many hindrances” preventing their organization
    from fully implementing AI and ML.
    • 77% are concerned that their organization’s data is neither timely nor reliable enough to use with AI and ML.
    • 72% say that their organization lacks the skills to fully implement AI and ML.

    Acknowledging pressure and risk.


    • 80% of decision-makers agree that AI is required to keep their business competitive.
    • 76% say their knowledge of AI and ML’s applications needs improvement.
    • 77% say that uptake of AI and ML at their company would increase if risk could be reduced.
    • The biggest risks of AI and ML:
    1. Data security and privacy 2. Concerns on accountability 3. Inability to measure ROI 4. Decision-making errors

    Anticipating the workforce of tomorrow.


    • 45% of decision-makers say AI and ML will benefit workers by augmenting workloads and creating new
    career paths.
    • 43% warn that AI and ML will replace some tasks, causing unemployment among some workers.
    • 12% are more doubtful, saying that AI and ML will replace humans completely and have a negative
    impact on workers.

    Addressing responsible AI and ML.


    • More than 9 in 10 (93%) of decision-makers believe it is important for a human to assist AI or ML when
    making significant decisions, rather than allowing the technologies to do it alone.
    • Only 29% are "very confident" that AI and ML are currently applied ethically to businesses; 52% are "very
    confident" it will be applied ethically within five years.
    • 39% put potential bias among the top three risks for their organization when implementing AI and ML.

    Feeling optimistic.

    Strong proportions of respondents say their existing AI and ML deployments


    have improved key business indicators: The ROI of AI and ML.
    Among companies measuring the ROI of their AI
    65% 63% and ML deployments, the results are favorable.
    Employee 100% Company
    experience revenue
    80%

    8%
    60%

    40%

    20% 42%
    37%

    Poor—below expected ROI

    Good—at or near expected ROI


    67% 68%
    Customer Risk, fraud, and
    experience compliance Excellent—exceeded expected ROI

    Reaping the benefits already.


    All respondents (n=1,000): What do you consider to be the main business benefits from investing in AI and ML?
    (Combination of responses ranked first, second, and third.)

    Better decision-making and next best action (NBA) business insights


    41%

    Enabling higher levels of productivity


    38%

    Automating business processes


    35%

    Increased revenue and profits


    34%

    Reskilling or upskilling employees


    34%

    Reduced headcount and hiring costs


    33%

    Improved employee retention / experience


    32%

    Lowering costs
    31%

    Companies are on the way.


    All respondents: What most closely describes the stage your organization is at when it comes to implementing AI and ML?

    26% 26%

    16% 16%
    14%

    2%
    0%

    Exploring Piloting Rolling out In early Looking No plans Don't know


    production to scale

    94%
    of respondents’ organizations
    83%
    of respondents expect their level of
    are investing in AI, according to investment in AI and ML will stay the
    IT decision-makers. same or increase in the next year.

    Less artificial, more intelligent.

    The way forward with AI and ML starts with our report


    “AI IQ: Insights on Artificial Intelligence in the Enterprise.”
    Read the report for expanded insights, more data, and a clear path forward on how to leverage
    AI and ML for a changing world.
    To learn how Workday can help your organization unlock the power of AI and ML, contact us.

    Download workday.com/ai

    About the research.


    Researcher: Vanson Bourne Methodology: 1,000 quantitative surveys and five qualitative interviews
    Personas: Decision-makers in HR, finance, and IT (C-level/board, senior/mid-level, and junior management)
    Company size: >500 employees Locations: Americas (400) | EMEA (450) | APJ (150)
    Learn more about the research in our full report.

    +1-925-951-9000 +1-877-WORKDAY (+1-877-967-5329) Fax: +1-925-951-9001 workday.com

    © 2023 Workday, Inc. All rights reserved. WORKDAY and the Workday logos are trademarks of Workday, Inc. registered
    in the United States and elsewhere. 20230627-ig-ai-iq-research-infographic-enus

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