78% Companies See AI as a Key Revenue Driver in 2022

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Cost savings was cited as the best measure of success for businesses deploying AI/ML solutions, followed by revenue growth and time saving. 

A majority of businesses surveyed by SambaNova Systems cite AI as a key revenue driver in 2022. 

In the new study, 78 percent said artificial intelligence was “very important” for driving revenue and 68 percent said the technology aligned with their business goals. 

Cost savings was cited as the best measure of success for businesses deploying AI/ML solutions, followed by revenue growth and time saving. 

SEE ALSO: Businesses Still Struggling With AI Deployment

75 percent of businesses surveyed said that improving access to deep learning tools is important for their industry, with natural language processing considered the most vital deep learning application. 

Other popular deep learning applications included computer vision and recommendation algorithms. 

Even with this keen interest from companies, there is still a lack of broad deployment of artificial intelligence technologies. Only 25 percent surveyed said they have scaled AI across their organization. 

Businesses cited difficulty customizing models, insufficient computing infrastructure and lack of skilled staff as the primary barriers preventing further deployment of AI in their organization. 

Over half of respondents expected to run out of computing power in the next decade without new architecture, while 42 percent said they lack key staff to deploy AI/ML. 

“To keep pace with the rapid evolution of AI/ML and deep learning, technical leaders need to determine which use cases will drive revenue and innovation for their business, and identify how to deploy them quickly at an enterprise level,” said Rodrigo Liang, co-founder and CEO of SambaNova Systems. “Those that haven’t made it a priority will need to do so in 2022 and then move quickly to stay competitive.”

Almost one third of organizations say 20 percent of their IT budget is dedicated to AI/ML research, development and deployment. The financial sector was the most likely to significantly increase their investments in the industry, with 81 percent of organizations likely to in 2022.

David Curry

About David Curry

David is a technology writer with several years experience covering all aspects of IoT, from technology to networks to security.

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