AI Stats News: Only 14.6% Of Firms Have Deployed AI Capabilities In Production

The percentage of firms investing greater than $50 million in Big Data and AI initiatives is up to 64.8% in 2020 from just 39.7% in 2018, with a total of 98.8% of firms investing; only 51.9% of firms are accelerating their rate of investment, in stark contrast to the 91.6% who were accelerating their pace of investment in 2019; only 14.6% of firms report that they have deployed AI capabilities into widespread production, and the percentage of firms naming AI as the most disruptive technology declined from 80.0% in 2019 to 69.5% in 2020; 73.4% of firms cite big data adoption as an ongoing challenge and only 37.8% report that they have thus far created a data-driven organization; 90.9% of firms cite people and process challenges as the biggest barriers to becoming data-driven organizations; 72.1% of firms report that the Chief Data Officer function remains an unsettled role, while only 27.9% describe the role as being successful and established; many organizations continue to point to no single point of accountability for data within their firms, with 26.8% pointing to no single owner, and only 40.2% identifying the Chief Data Officer as primary executive with data responsibility [NewVantage Partners survey of 70 senior executives from large organizations]