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Artificial Intelligence driving revenue growth for businesses: Infosys study

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Infosys released multinational research findings on artificial intelligence (AI) business impact, market maturity and expectations. The research report, Amplifying Human Potential: Towards Purposeful Artificial Intelligence, polled 1,600 senior business decision makers at large organisations across the world.

The report revealed link between an organisation’s revenue growth and its AI maturity: Organisations who report faster growth in revenue over the past three years.

AI is perceived as a long-term strategic priority for innovation, with 76% of the respondents citing AI as fundamental to the success of their organization’s strategy, and 64 percent believing that their organization’s future growth is dependent on large-scale AI adoption. While there are ethical and job related concerns – 62% believe that stringent ethical standards are needed to ensure the success of AI – most respondents seem optimistic about redeploying displaced employees with higher value work.

The majority, 85%, plan to train employees about the benefits and use of AI, and 80 percent of companies replacing roles with AI technologies will retrain or redeploy displaced employees.

Sandeep Dadlani, President & Head of Americas, Infosys, said,”As we are seeing AI mature and gain momentum, our research shows that the next four years will witness further spikes in interest, and general bullishness about the significant value and benefits that can be obtained through AI adoption. As an industry therefore, we must take necessary steps to ensure AI is developed morally and ethically across every part of society.”

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