Artificial Intelligence

Has Progress on Data, Analytics, and AI Stalled at Your Company?

Harvard Business Review
February 13, 2023
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With 112 Fortune 1000 companies surveyed, spending on data analytics and artificial intelligence (AI) has slowed. 79.8% of respondents identified cultural factors to be the biggest barrier to data analytic and AI adoption, despite measurable gains when these efforts are employed.

It’s time for Fortune 1000 companies to rethink their investments in data, analytics, and AI. Of course, companies should be investing in these critical business capabilities and differentiators. What they need to take a hard look at is how they’re investing, and whether these investments are leading to the kinds of gains and the levels of business value that companies are aspiring to achieve.

Responses to a recently released survey of Fortune 1000 and global data and business leaders show that data, analytics, and AI efforts have stalled — or even backslid. Since 2012, when I launched the survey to investigate organizations’ investments in data initiatives, the survey has expanded into related topics such as analytics, AI and machine learning, the role of the Chief Data Officer, and data ethics. This year, the survey captured the perspectives of chief data officers (CDO), chief data and analytics officers (CDAO), and other senior data and business leaders from 116 Fortune 1000 companies and global leaders, across financial services, retail, consumer packaged goods, health care, life sciences, and more. The responses revealed troubling trends.

Read more here.

Harvard Business Review
Harvard Business Review

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