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Ready for AI? Here’s how businesses are faring with their implementations

By Soffos Team
July 4, 2022

As artificial intelligence (AI) advances ramp up and use-cases in the marketplace continue to grow, more and more organizations are finally starting to see the light.

Whether it is reducing the workloads of overstretched staff members who need more time to focus on higher-level tasks, or developing workable solutions to help serve critical business functions, AI is proving itself to be a vital ingredient when it comes to helping companies increase their efficiency, boost their revenue, and more future-ready.

With this in mind, the Soffos team recently commissioned a brand-new and exclusive body of research to get to the bottom of how businesses are implementing their AI. We’ll be revealing the full findings in due course – but for now, here is a sneak peek of what we found…

Next-gen solutions will be at the heart of AI implementation

While not every business has hopped on the AI bandwagon just yet, our findings suggest that organizations far and wide are catching the AI bug. According to the survey, 32% of the firms surveyed are already using AI, with a further 12% looking to deploy AI solutions in the next 12 months, and another 14% beyond this period.

When asked about the specific solutions they are implementing to boost their operations, the vast majority (77%) of respondents said that they were looking to Natural Language Processing (NLP) solutions like speech recognition, machine translations, chatbots and sentiment analysis. Meanwhile, a further 72% said they have implemented forecasting models, price optimisation or other machine learning algorithms, or that they are planning to do so in the future.

Firms are looking to low- and no-code to deliver on digital transformation

Clearly, businesses are recognizing the merits to drive their productivity – but what approach are they taking?

Where the implementation process itself is considered, crucially, the majority of respondents (65%) said that they plan to adopt a low- or-no code approach. Such findings are hardly surprising, given the global shortage of skilled developers and NLP experts available, not to mention the fact that firms can have AI projects in place in double-time, thanks to these solutions.

As things currently stand, 62% of businesses said that they have their own teams or dedicated team members in place to deal with AI initiatives, while marginally fewer smaller organizations had the in-house talent to deal with these deployments.

However, this mentality seems to be up for debate. When asked about their attitudes towards implementation procedures, business leaders were divided, as 51%revealed that application development should fall within the remit of internalIT staff. By extension, this means that the remaining 49% are showing signs that they are more open-minded when it comes to engaging with third-party providers or non-technical members of their team to drive their AI endeavours.

Is citizen development the future of AI?

Beyond low-code application platforms (LCAPs), our research suggests that companies are increasingly opting for solutions that require no prior knowledge of coding whatsoever. More than half of those surveyed (53%) went as far as saying that citizen development, which provides non-technical employees with visual interface platforms with which they can create software, is good for business. Moreover, these decision-makers surveyed said that these solutions allow IT staff to focus on high-code projects and innovation – making it a win-win!

Ultimately, we are thrilled to see that so many organizations are starting to think outside the box when it comes to their AI implementation journeys, with many considering new and innovative options beyond traditional legacy implementation procedures, which can be costly and extremely time-consuming.

We’ll be revealing more of our findings very soon, so watch this space!

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