Investments in AI/ML initiatives could boost revenue in 2022

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 25, 2022, 11:51 AM GMT+0

81% of companies intend to increase their AI/ML investments, as per SambaNova Systems’ recent survey.

AI and machine learning (ML) will be key revenue driving components of 78% of top organisations in 2022. Only a quarter of top companies’ AI/ML initiatives have been scaled across their organisation, despite them acknowledging the importance of AI/ML activities.

The primary motivations for brands to invest in AI/ML are innovation (40%), operational efficiency (25%), and vying with competitors (22%).  Also, cost savings as a KPI is used by 72% of firms to assess the performance of AI/ML initiatives, followed by revenue growth (67%) and time savings (60%).

Better access to deep learning is vital for industry innovation, according to 75% of respondents, and 81% use deep learning applications with natural language processing. However, due to obstacles like inadequate computing infrastructure, brands find it difficult to scale AI/ML.

Discover the top organisations in your market and industry that have customers buzzing using YouGov BrandRankings.

Read the original article

[3 minute read]

Explore more data & articles