Artificial Intelligence’s Golden Age

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A review of more than 1,000 executives, released by RELX, confirms this is the golden age of AI. Appropriation, for one, has continued to escalate in the last year, jumping from 48 percent in 2018 to 72 percent in 2019.

Officials, to say the least, are pumped. No less than 93 percent say that developing technologies, including AI and its close siblings of machine learning and in-depth knowledge are developing their businesses to be more competitive. Among these participants, 57 percent report that AI tech is assisting in growing and developing products, while 54 percent address these technologies are optimizing control and collaboration. AI may be a tool for consolidating and decreasing the workforce and operations. Still, it is having quite the reverse effect, the survey suggests. Close to two-thirds of executives, 64 percent, increased the areas of their business affected by AI in the last year. A majority of companies (56 percent) developed their data scientist and technologist headcount to support their AI tech development. Another 54 percent created new roles centered on emerging technology. With the increase in hiring, 54 percent of businesses were able to complete additional AI strategies.

Executives recognize and report they are actively pursuing education and training possibilities. A vast majority (93 percent) believe that companies should advance in the future artificial intelligence workforce through pedagogical initiatives such as university partnerships. The bulk (62 percent) of executives say their company offers AI training presently, up from 46 percent in 2018. Of those who say their company does not present practice, only about half, 53 percent, say they prepare to do so in the future.