The vast majority of global corporate strategists, 79% to be exact, view artificial intelligence (AI), analytics, and automation as crucial to their success within the next two years, according to a recent Gartner survey.
Exploring the Evolution of Enterprise Priorities
The survey, conducted between October 2022 and April 2023, reveals a substantial shift in corporate emphasis toward next-generation technologies. AI and its counterparts are no longer mere instruments for executing menial or repetitive tasks; they are now regarded as instrumental in driving high-value business growth initiatives such as strategic planning and decision-making.
The survey is based on interviews with nearly 200 corporate strategy executives from North America, Western Europe, the Asia-Pacific, Australia, and New Zealand, representing diverse industry sectors.
Unlocking the Future with Automation
Even though only 15% of strategic planning and execution activities are currently automated, respondents to the survey are optimistic regarding the potential for growth in this area. They anticipate that an average of fifty percent of these tasks will be partially or entirely automated in the near future.
According to the interviewees, this expansion is essential as businesses contend with escalating initiatives, increased data, and a plethora of decisions in the face of limited time and resources. David Akers, director of research at Gartner, observes, “One of the greatest challenges and opportunities facing corporate strategists this year is leveraging analytics and AI to make more efficient and insightful strategy decisions.”
The Diverse Nature of Technology Adoption
The survey results indicate a muddled picture regarding the adoption of cutting-edge technologies. While established technologies are swiftly adopted, most emerging technologies are still experimental.
72% and 62% of respondents have implemented descriptive and diagnostic analytics into their workflows. In contrast, only 26% and 41% of respondents reported deploying more advanced prescriptive and predictive analytics, with the majority (47% and 45%, respectively) either piloting these technologies or still in the research phase.
Navigating the Path to Implementation
Identifying suitable business use cases, familiarizing businesses with the technologies, and securing the budget for implementation are three crucial challenges for corporations seeking to transition from experimenting to deploying advanced AI and analytics.
It is essential to address these concerns to incorporate advanced technologies already in use elsewhere successfully. As suggested by Gartner, a potential solution could consist of mapping existing functionality to specific needs, then prioritizing various use cases that new technology could offer by posing essential questions regarding its purpose, impact, and suitability.
In the swiftly changing landscape of corporate strategy, incorporating AI, analytics, and automation is no longer optional; instead, it is a prerequisite for future success. According to David Akers, corporate strategists are increasingly willing to “apply that guidance to their own workflows.”