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Overcoming today’s weighty business challenges demands a re-assessment of automation’s cutting edge, EY counsels.
A survey commissioned by EY-Parthenon found that 63% of companies are using AI for efficiency and productivity gains. However, only 14% leverage AI to gain a competitive edge, 8% to reach new customers, and 7% to diversify revenue streams, indicating a significant trust gap in AI's strategic capabilities.
80% of corporate growth leaders surveyed by EY-P stated that the business growth environment is more challenging than a year ago. 97% indicated external forces, such as geopolitical/economic pressures (73%) and technological innovation (58%), have altered their growth strategies in the past year.
Many participants (78%) are optimistic that AI will accelerate their company’s growth rate, yet only 34% trust AI to support growth-related decision-making. Key inhibitors to faster innovation include risk and compliance challenges, along with legacy technology and infrastructure.
Companies can then find new uses for products that can be developed and markets that can be addressed.
Recent advances in AI-based reasoning allow companies to separate decision intelligence from transactional systems … and continuously [learn] from outcomes rather than relying on static rules.
NSAI combines the ability of neural networks to learn from structured and unstructured data with a symbolic layer of rules and parameters that create consistent, auditable and transparent results for decision-making.