Study: Key decision makers look to AI for ongoing success

Artificial intelligence (AI) is increasingly topping IT wish lists as a means of improving business decisions and providing personalization.



That’s according to a new report from PwC, “Bot.Me: A Revolutionary Partnership.” The study, surveyed consumers and business decision makers on AI’s impact in the business world, the evolution of AI acceptance by consumers and AI’s changing role in addressing socioeconomic issues.



The study found that 63% of consumers agree that AI will help solve complex problems that plague modern societies. One of those issues is cybersecurity. Specifically, 68% of consumers are bullish on AI’s importance in solving cyberthreats and privacy.



AI could also be the competitive edge that companies, including retailers, need for longevity. For example, 72% of business leaders believe AI will give them a competitive advantage in the future. Meanwhile, 55% of executives believe AI’s potential to boost business productivity, inform strategy and generate growth outweighs the potential downside of employment concerns, the study said.



AI could also be the conduit companies need to efficiently reach its most loyal and profitable shoppers. For example, 67% of participants stated that leveraging AI will help humans and machines work together, and combine digital and human intelligences in the best ways possible.



One of the results of this combination will be better delivering a “superior one-to-one experience” — a priority for 63% of business leaders.



And it appears that consumers are caring less and less if that experience comes from a human or a bot. In fact, 64% of respondents stated they would rather have instant access to quality customer service than preserve the jobs of customer service representatives, according to the study.