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PEAK, a Decision Intelligence company, released its State of AI 2022 report highlighting that Indian businesses lead both US and UK when it comes to data maturity and adoption of Artificial Intelligence (AI). Most (84 per cent) Indian businesses with 100 or more employees are currently using AI in one form or another, nearly twice that of the UK (46 per cent), whereas the US is at 68 per cent. A staggering 98 per cent of companies in India using AI are leveraging it to automate decisions.
Richard Potter, co-founder, and CEO of Peak said, “Peak has seen huge ambition from Indian customers when it comes to AI adoption, which is reflected in this report. Decision-makers here regularly score their businesses and their industries higher than their US or UK counterparts on everything from digital transformation to AI adoption and attitudes to data.
“AI is a pivotal technology that will fundamentally change the way we work. Successful commercial adoption requires a high level of data maturity within a business, strong support from the entire organisation and a focus on building models that solve a business need. Indian businesses are embracing AI, giving themselves a strong competitive advantage – both at home and on an international stage.”
The research, conducted in partnership with the Centre for Economics and Business Research (CEBR), finds that Indian respondents are more likely to say they have the technical knowledge and managerial skills in-house to facilitate digital transformation.
Indeed, Indian businesses are more likely to have hired data scientists, data engineers and decision architects than their counterparts in the US or the UK. Similarly, 61 per cent of organisations in India have a Chief Data Officer compared to the global average of 52 per cent. They were also most likely to seek support from external tech teams (59 per cent vs an average of 47 per cent), suggesting that Indian businesses are better able to realise value from their data investments and can justify the additional spend.
Also Read: India- The next emerging superpower in artificial intelligence
The report also provides a look at the data strategy and architecture that Indian decision-makers have in place:
● 78 per cent of decision-makers say that their businesses are data-driven whereas 82 per cent have a standardised process for collecting data – the highest globally
● 90 per cent of Indian decision-makers say they have a data strategy vs 68 per cent in the UK
● 86 per cent of businesses globally have a data lake/warehouse, the highest incidence is in India (93 per cent), followed by the US (84 per cent) and the UK (80 per cent)
● Indian businesses are most likely to have all their data in a data lake or warehouse (46 per cent, vs a global benchmark of 34 per cent)
