In terms of digital transformation and having the needed infrastructure to deploy AI technology, one in five companies are lagging behind, according to a recent McKinsey study.
Jacques Bughin and Nicolas van Zeebroeck, two analysts behind the study, concluded that it takes technology in order to make technology. They speculate that the companies that have the necessary technological capabilities will likely prevail in this digital transformation battle.
Naturally, the question presents itself: which technologies make entering the field of AI easier? The researchers believe it’s as follows:
– Big data
– Cloud computing
– Advanced analytics
The researchers note that companies with a strong base in these areas were about 30% statistically more likely to have developed the necessary AI tools. According to their findings, about 1 in 3 companies have an advantage in adopting the digital technologies. Specifically, they criticise certain companies that are lagging behind with regards to the needed cloud and advanced analytics, believing they are not good candidates for AI efforts.
On the bright side, Bughin and Zeebroeck remind us that these are still the early days of AI; about 35% of companies, as they believe, are already working on implementing AI or are piloting it. Emphasising the market impacts, they claim that disruptive business models may already be depressing industry margins. Also, early adopters are already in the process of moving to the second wave of AI, which will help them stay ahead of the pack even more.
Their final nugget of wisdom? Start thinking digitally.