Why Fear of Disruption Is Driving Investment in AI

Executives are looking to future-proof their organizations with key investments in emerging technologies.





As we begin 2019, Fortune 1000 companies are accelerating their investment in big data and artificial intelligence (AI) initiatives, with an astonishing 91.6% of the executives indicating that their companies are accelerating the pace of their big data and AI investments. This is a principal finding of the NewVantage Partners 2019 Big Data and AI Executive Survey, which includes 65 Fortune 1000 or industry-leading organizations. C-level executives comprise 97.5% of survey participants, representing companies including American Express, Capital One, Ford Motor Co., General Motors, Johnson & Johnson, Mastercard, and MetLife. When we look at the main drivers for this focus on AI and big data investment, one clearly leads the pack: the fear of disruption.

According to the 2019 survey, Fortune 1000 companies are now recognizing that they must become more adept at leveraging their data assets if they are to compete successfully against highly agile data-driven competitors. Over the past decade, exponential growth of data, coupled with access to much larger data volumes and data sources, has enabled rapid evolution of AI capabilities — with the result that organizations are now able to apply AI capabilities at scale to deliver business value.

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