Only 12% of companies are AI Achievers.
According to Accenture, in 2021, among executives of the world's 2,000 largest companies (by market capitalization), those who discussed AI on their earnings calls were 40% more likely to see their firms' share prices increase -- up from 23% in 2018. Yet the most recent Accenture research suggests that only 12% of companies have advanced their AI maturity enough to achieve 'superior growth' and business transformation. On average, 12% of "AI achievers" attribute 30% of their total revenue to AI.
What is AI Maturity? AI maturity measures the degree to which organizations have mastered AI-related capabilities in the right combination to achieve high performance for customers, shareholders and employees. "AI maturity comes down to mastering a set of key capabilities in the right combinations -- not only in data and AI but also in organizational strategy, talent and culture. This includes "foundational" AI capabilities -- like cloud platforms and tools, data platforms, architecture and governance -- that are required to keep pace with competitors. It also includes "differentiation" AI capabilities, like AI strategy and C-suite sponsorship, combined with a culture of innovation that can set companies apart," Accenture.
There are four types of companies with respect to AI maturity:
Achievers, Builders and Innovators collectively represent just 37% of surveyed organizations -- Achievers accounted for 12%, Builders for 12% and Innovators for 13%.
Only 12% of companies are AI Achievers.
AccentureHere are the key AI takeaways from Accenture research:
AI transformation will take less time than digital transformation
AccentureLevels of AI maturity by industry, 2021 and 2024
AccentureAI Achievers are deploying AI solutions to solve problems, spot opportunities and outperform their peers.
AccentureAdvancing to the rank of "AI Achiever" requires focus and commitment. The research identified five focus areas: 1. Champion AI as a strategic priority for the entire organization, with full sponsorship from leadership, 2. Invest heavily in talent to get more from AI investments, 3. Industrialize AI tools and teams to create an AI core, 4. Use AI responsibly, from the start and 5. Prioritize long- and short-term AI investments.
Accenture research concludes that AI Achievers have moved past cloud migration to innovation and have capitalized on cloud's scale and computing power to tap into new data sources and AI technologies. But it is not the technology but rather their approach with applications of AI that sets this 12% of companies apart. AI Achievers know that AI maturity is as much about people as it is about technology.
To learn more about Accenture's research, you can visit here.