CognitiveScale conducted a survey on AI Engineering with over 600 respondents and the results were fascinating! The majority of respondents were c-level executives, senior or middle management mainly in the industry of Finance and Insurance or Information – Services and Data. All respondents were US based and most work for companies with greater than 500 employees and upwards of 5,000 employees.
The respondents are primarily responsible for data, analytics, data science/ AI and driving digital transformation initiatives within their organizations. 88% of respondents said they were planning to solve business challenges with the help of automation or AI in the near future, and the remaining 12% said they were strongly considering it. There is a lot of opportunity for AI in these industries, and the playing field is wide open in terms of finding the right tools and technology to solve their business challenges.
Some of the challenges these executives and management are facing is issues with scaling the implementation of AI applications across multiple use cases, or lines of business. To productionalize their AI systems of engagement it is taking longer than expected. Some of the factors for success of their AI initiatives includes alignment to business outcomes, risk and governance, and deployment of AI applications. Nearly 75% respondents said trust and transparency is extremely important in their overall AI application development, as well as re-use and repeatability in the AI development process. These organizations estimate to spend millions of dollars on AI technology anywhere between $1M-$10M. There is money to be made in regard to deploying AI technology in a responsible and scalable way. These organizations are familiar with AI Engineering principles and are looking for the right set of tools and technology to address their business challenges.
The award-winning Cortex AI Platform from CognitiveScale can address these key business challenges for organizations by allowing them to build, manage, and govern AI applications in a repeatable, scalable way. With prebuilt application blueprints you can be up and running faster than ever. Certifai, a unique component of our Cortex platform, allows you to test AI models for bias, explainability and robustness so you can ensure your models are fair. Drive personalized insights at scale and measure business outcomes today!