The survey indicates that many organizations still face challenges in fully harnessing AI potential. | Image: Wikimedia commons
Companies embracing AI-led processes globally are experiencing remarkable growth, surpassing their peers with higher revenue growth and greater productivity, according to a report by Accenture.
In India, the percentage of organisations fully modernised with AI has surged from 8 per cent in 2023 to an impressive 25 per cent in 2024, marking a significant leap in operational efficiency and revenue generation, the report said.
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The findings are based on a survey of 2,000 executives across 12 countries and 15 industries, including insights from 200 senior executives based in India.
The report, titled “Reinventing Enterprise Operations with Gen AI,” highlighted that globally, organisations that have adopted intelligent operations are achieving 2.5 times higher revenue growth and 2.4 times greater productivity than their peers.
This trend underscores the transformative power of Generative AI, which has become a catalyst for innovation across various sectors. Notably, 79 per cent of Indian companies reported that their investments in generative AI and automation have met or exceeded expectations, prompting 64 per cent to plan further enhancements by 2026.
Despite these advancements, the survey indicates that many organizations still face challenges in fully harnessing the potential of AI.
Approximately 64 per cent of companies worldwide struggle with operational readiness, primarily due to inadequate data foundations and a lack of talent reinvention strategies. In India, 58 per cent of executives expressed concerns about their workforce’s preparedness for the rapid advancements in AI technology.
Accenture Group’s Chief Executive for Operations Arundhati Chakraborty emphasised the urgency for businesses to adapt, and said Generative AI is more than just technology–it requires a mindset change that impacts the entire enterprise.
Most executives understand the urgency of reinventing with generative AI, but in many cases their enterprise operations are not ready to support large-scale transformation.
“…an end-to-end perspective leveraging talent, leading practices and effective collaboration between business and technology teams is essential for intelligent operations,” Chakraborty said.
Outlining four key strategies, the report said centralised data governance, talent-first strategy, collaborative innovation, and utilising cloud-based process mining are essential for business leaders aiming to enhance operational maturity.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 15 2024 | 8:43 PM IST
