Almost 60% of companies surveyed by McKinsey last year admitted using at least one AI capability
, such as natural language processing (NLP), robotic process automation (RPA)
, or computer vision. Yet, only 16% of businesses determine use cases for artificial intelligence before integrating AI into their workflows. Subsequently, the percentage of organizations that register a sizable return on AI investments fluctuates around 11%
across different industries.
The lackluster results are partially caused by executives' misunderstanding of artificial intelligence and the opportunities it creates. To help our clients sift through the AI noise and develop a viable AI implementation strategy
, the ITRex team will publish a series of explanatory articles. This time, we'll focus on AI types and subsets, as well as their possible applications in business.