skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.

Omdia view

Summary

From September to December 2019, the AI Summit and Omdia, in partnership with Starmind and Forbes, commissioned a survey that saw over 1,000 thought leaders, business leaders, solution creators, and enterprise problem solvers take part. This high-level engagement gave us an insight into how AI solution providers and their customers see the developing AI industry. This space is experiencing phenomenal growth and interest, with the size of the AI software industry estimated to go from $5.4bn in 2017 to over $126bn in 2025, according to Omdia.

However, in the last year there has been growing introspection in the industry, with some even asking whether we are on the brink of an AI winter. These survey results suggest not. And yet, the road to much-hyped AI solutions, particularly those which can cut across enterprise functions, is in a period of re-evaluation as the challenges have been underestimated, the pace of advancement overestimated.

In this period of re-evaluation, it will be paramount for enterprises seriously considering the adoption of AI solutions across their business to engage high-level backing from their board of directors and C-suite to break down business silos. For AI solution providers, definition, quality, and clarity should be your motto. Many AI solution markets are far from defined, and while the optimal approach to AI has been characterized as "go big or go home," there are still plenty of business leaders who do not see this as the case. This means that in providing quality point solutions and cornering your own defined niche there is plenty of scope for AI solution providers to generate large growth opportunities.

That said, clarity in your marketing and your solution is taking on increased importance. As executives begin to prioritize their own business needs more effectively, clarity of what your AI does and how it does it will become increasingly important. Regulators are waking up to developments in AI and the change it is bringing to our societies. A key limiter in the adoption of AI is mistrust in the decisions it comes to. In the long term those solution providers who can make their solutions explainable, and therefore accountable, will win greater market and mind share because their solutions can be better understood than their competition.

Contents:

  • Summary

  • Realignment as Reality Knocks

  • Dreaming of a Cross-Enterprise AI

  • Market Outlook

  • Appendix

  • Starmind – Augmenting Human Intelligence with AI

Omdia View:

  • Organization, not technology, is the key challenge in developing AI, particularly breaking through organizational and data silos.

  • The challenges have been underestimated, and the pace overestimated, in the development of AI solutions.

  • CRM, website operations, product design, marketing, and sales functions currently show the greatest levels of AI development and look set to be the most promising growth areas for the next couple of years.

  • Development of cross-enterprise AI solutions are hampered by a lack of unified AI strategies.

  • Demand for AI talent will only increase as enterprises realign and build out a comprehensive strategy to delivering an AI enabled organization.

Access the full, complimentary, interactive report here.

Notes:

This report is based on the results of a survey conducted by the AI Summit Event Series, part of Informa Tech, in partnership with Forbes. Responses were taken between September and December 2019, with 1093 initial responses. Respondents by geography: US 43%; EMEA (exc. UK) 25%; UK 15%; APAC 13%; Americas (excl. US) 5%. Respondents came from 69 countries, included over 90 CxOs, and over 150 enterprise respondents. Results have then been interpreted based on wider research conducted by the analyst.

Learn more about the world’s largest AI event for business, the AI Summit, here.

Learn more about the global technology research portfolio, Omdia, here.

To learn more about Starmind or to speak to someone regarding their Neural Know-How Network, go to starmind.ai.

Appendix

Author

Chris Silberberg, Research Analyst, Service Provider Tech

[email protected]

Recommended Articles

;