A new survey has revealed that 85 per cent of senior executives plan to invest in artificial intelligence (AI) and the Internet of Things (IoT) by 2020.
These findings come from Deloitte's new Digital Disruption Index which aims to track to track investment in digital technologies to create a detailed picture of their impact on large and influential businesses and public sector bodies. The firm's first edition of the index gathered responses from 51 organisations that together possess a combined market value of £229 billion.
More than half of the organisations surveyed expect to invest over £10 million in digital technologies such as AI, cloud, robotics, analytics, blockchain, the IoT and virtual and augmented reality. Across these technologies, seventy three per cent said they plan to invest in robotics, 63 per cent will invest in augmented and virtual reality, 62 per cent will invest in wearables, 54 per cent will invest in biometrics and 43 per cent will invest in blockchain.
The leader of UK digital transformation at Deloitte, Paul Thompson offered further insight on the firm's first Digital Disruption Index, saying:
“The first edition of the index shows that few UK businesses are successfully exploiting digital technologies and ways of working. Strategies are not coherent, investment levels are modest and the relevant skills are in short supply. As a result, the UK isn't living up to its digital potentional.”
Of all the digital technologies included in the index, executives believe AI will have the greatest impact on the future of their organisations with 77 per cent of leaders of the opinion that AI will disrupt their industry.
The digital skills gap will also play a large role in the future success of organisations and only 20 per cent of leaders think that there are enough gradates entering the workforce with the necessary digital skills and experience.
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