Frost & Sullivan predicts that artificial intelligence (AI) adoption unleashes innovative business models, drives operational efficiencies, and creates strategic differentiation. The analyst goes on to comment that the pace of digital transformation and AI adoption has accelerated as organisations explore new means of creating sustainable business models and driving customer value.
“The move to large-scale AI adoption requires a holistic AI strategy coupled with an ethical and responsible framework to ensure sustainable and long-term adoption,” said Hemangi Patel, ICT industry analyst at Frost & Sullivan.
“Going forward, deploying AI technologies and operationalizing an ethical AI framework within an organisation and throughout the AI development and management life cycle will require a well-defined approach and business as well as the alignment of all technology stakeholders.”
She added that data-driven business models and the digitisation of functional applications created large volumes of data that need to be analysed effectively to unlock their true potential.
Because of this, she predicts that over the next three years, “organisations are expected to create data readiness for AI deployments and leverage disruptive AI technologies to strengthen competitiveness and build sustainable business models.”
Call to action
Frost says market participants seeking to take advantage of the expanding AI market and its growth opportunities should consider partnering with consulting services companies to provide advisory capabilities to clients.
They may also look at integrating AI capabilities into vertical/horizontal enterprise solutions or create industry-specific solutions.
Another recommendation is to develop infrastructure management platforms and tools to effectively deploy technologies and provide customers with easier management of edge data centre facilities, networks, and security. Finally, build domain capabilities around use cases or establish strategic partnerships with advisory service providers and industry participants that possess the necessary functional abilities.
