Fear of competitors leaving businesses behind is driving investment in AI, according to a new report from intelligent automation technology provider ABBYY. As part of its celebration of Intelligent Automation Month, the Bay Area company surveyed IT leaders in the US, UK, France, Germany, Singapore, and Australia and found 63 percent of them said their main motivation for implementing AI-based systems is fear of losing out to competitors. Another 55 percent of those polled admitted that pressure from customers was a key driver in investing in AI.
Despite diving headfirst into implementing AI solutions, a third of those polled in the survey report they are concerned about the cost of implementing them and some also have some trust issues. The average investment in AI per company reached nearly $880,000 last year and most reported they plan to increase investment next year.
The report examined what IT leaders worried about the most when implementing AI tools. Surprisingly, misuse by their own staff was the most common fear (35%), followed closely by cost concerns (33%), AI hallucinations and lack of expertise (both 32%), and compliance risk (29%).
Download the entire ABBYY State of Intelligent Automation: AI Trust Barometer report here. During the month of September, ABBYY will also be conducting weekly webinars on other topics around intelligent automation. For more information or to register, visit the Intelligent Automation Month site.