AI Adoption Trends Up

At RealmIQ, a leading AI Consultancy, we have long emphasized the revolutionary potential of generative AI. However, it is important to acknowledge that the broader AI landscape holds significant untapped value, as highlighted by recent research findings.

A recent study published in the AI Review (2023) explores the evolving role of generative AI in the industry and acknowledges the growing prominence of AI approaches due to their practical applications and immediate impact on business operations. Companies are increasingly turning to these solutions to achieve faster ROI and address specific business challenges.

“Generative AI stands as a formidable ally for marketing agencies, empowering them to automate tasks, personalize content, and execute highly efficient campaigns. However, a discerning eye must be kept on potential risks, such as bias, and the critical need for rigorous quality control. By artfully balancing these factors, marketing agencies can harness the full potential of generative AI, gaining a distinct competitive advantage and delivering unparalleled results for their valued clients.” Phil Ranta, RealmIQ Mentor

Additionally, a report by Deloitte on AI adoption trends in enterprises (2023) reveals significant investments in AI technologies, such as natural language processing, computer vision, and predictive analytics. These applications offer tangible benefits, including improved forecasting accuracy, enhanced customer experiences, and streamlined supply chain logistics.

In the retail sector, a study conducted by Forrester Research (2023) highlights the value of AI-powered recommendation engines in driving higher conversion rates and increased customer loyalty. This underscores the immense potential of these technologies in providing personalized next-product-to-buy recommendations.

Despite the steady overall AI adoption rate, as mentioned in our previous statement, newer data from a global survey conducted by PwC (2023) indicates that more than 70 percent of organizations now plan on increasing their investments in AI technologies. This growing interest indicates a broader recognition of the value that AI can bring to businesses across diverse sectors.

Furthermore, McKinsey & Company's recent analysis (2023) of AI high performers reveals that organizations are continuously expanding their capabilities and leveraging a mix of generative and AI solutions to extract substantial value. This highlights the importance of a balanced approach that considers various AI techniques to achieve significant benefits.

“Looking ahead to the next three years, respondents predict that the adoption of AI will reshape many roles in the workforce. Generally, they expect more employees to be reskilled than to be separated. Nearly four in ten respondents reporting AI adoption expect more than 20 percent of their companies’ workforces will be reskilled, whereas 8 percent of respondents say the size of their workforces will decrease by more than 20 percent.”

Source: McKinsey Global Survey on AI, 1,684 participants at all levels of the organization, April 11-21, 2023

AI is also transforming research and data analysis in the academic realm. Researchers are utilizing AI algorithms to process vast amounts of data, enabling more sophisticated analysis and accelerating discoveries across various disciplines. AI-driven natural language processing tools are revolutionizing the way academic papers are reviewed and published, expediting the peer-review process and fostering greater collaboration among researchers globally.

“As someone who works with Education Institutions as well as with the next generation, I'm also excited about what this will mean for our youth. I believe AI will help usher in necessary shifts in the education system, e.g. less memorization and set education pathways... and more exploration-driven innovative education systems that don't encourage conformity in the first place. And, in a world where our children don't spend 15 years learning to suppress their uniqueness, we get to reap the benefits of their natural wisdom, the wisdom we suppressed in ourselves and have to work much harder to uncover. There are so many solutions present in the natural wisdom of youth when combined with the knowledge of experience (instead of suppressed by it). And AI will help this. When used as a tool, AI can be so generative and allow for youth to follow their sparks of creativity with even greater vigor.” – Orion Ohev, RealmIQ Mentor

Related article – RealmIQ signs new AI Mentors

As we continue to explore the evolving landscape of AI, it becomes evident that generative AI is crucial for unleashing the full potential of AI-driven transformations within companies. At RealmIQ, we remain committed to staying at the forefront of the latest research and developments, providing strategic AI solutions that help our clients harness the broader AI promise and unlock unparalleled value for their businesses.

About RealmIQ

RealmIQ is a Curt Doty Company, founded by Curt to meet the growing demand of up-skilling entire staffs of companies instead of Individuals taking costly seminars online. They offer a bespoke 3-4 day workshop tailored to the specific business, complete with follow up documentation to help companies manage the complexities and changes brought on by the AI revolution. This is far more effective and affordable than conference allowances of up to $10K for each employee. With AI mentors spanning the globe, these workshops are hands on demos of the current state of AI technology relevant to each business that engages RealmIQ. Their mission is to celebrate and educate how AI can augment the working population and not replace it.