Artificial intelligence (AI) and Machine Learning (ML) topped the list of strategic business initiatives according to a new report by Acorio and NTT Data company. 26% of respondents saying they had started their initiatives in the past year.
Digital transformation efforts are increasing in every industry, but none more so than financial services and healthcare, Acorio said. During a period in which every company was forced to rethink its digital strategy due to the unforeseen toll of COVID-19, more than half of respondents to this year’s survey reported that their digital transformation initiatives started or increased in importance because of the COVID-19 pandemic. And, as companies eye what the future workforce looks like, nearly 40% of respondents listed return to work as a newly important priority for this year.
Nearly two-thirds of larger firms reported having digital transformation initiatives underway for a year or more, and 15% reported being almost done with their digital transformation initiatives. Last year, only 8% said they were almost done with their digital transformation initiatives.
Innovation in advanced automation is becoming intertwined with digital transformation efforts. In last year’s report, 46% of the largest companies surveyed (those with 10,000+ full-time employees) reported having ‘just started’ on artificial intelligence (AI) and machine learning (ML) initiatives. Only 21% of the same group reported the same stage in our 2020 survey. Meanwhile, 55% of those companies today report having AI, Machine Learning, and Automation initiatives underway for a year or more, increasing by 21% since last year.
Acorio’s 2021 ServiceNow Insight and Vision Report comes from the largest global survey focused exclusively on ServiceNow and Technology Transformation. With nearly 500 responses, this year’s third annual report is Acorio’s largest study conducted to date. The responses were gathered anonymously through an online platform and come from a wide range of industries including healthcare, technology, and financial services. 68% of takers from companies with more than 5,000 employee and 44% named themselves as directors or above.
Read the full Insight Vision 2021 report from Acorio.
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