Infosys finds only 2% of companies ready for AI integration

New research from Infoysis' Knowledge Institute highlights that although companies worldwide recognise the potential of AI, they face significant challenges in readiness for integration into their operations.

The Infosys Enterprise AI Readiness report, surveying over 1,500 executives across different regions including Australia and New Zealand (ANZ), points out that the understanding of AI's transformative capabilities is widespread, yet implementation remains limited.

Only 2% of organisations globally are fully prepared for AI adoption across talent, strategy, governance, data, and technology domains.

The report identifies technology readiness as the area with the greatest deficiency, with a mere 9% of companies having required AI capabilities such as machine learning frameworks and dynamic compute systems. Similarly, only about 10% of businesses find data easy to access for AI projects, pinpointing data accuracy and governance as hindrances.

In Australia, the gap in AI readiness is notable, with business leaders found to be investing less in AI training compared to their global counterparts. Only 18% of ANZ companies report having employees skilled in AI tools, and just 23% believe their workforce has the necessary skills to adopt AI technologies.

Infosys' research emphasises the importance of addressing these readiness gaps to harness AI's full potential, which could yield productivity improvements of 10-40%. For this, the report proposes a five-step framework: developing a comprehensive AI strategy, establishing responsible AI governance, upskilling the workforce, preparing data infrastructure, and fostering a culture of tech-powered innovation.

For AI strategy, alignment with business goals is stressed, yet only 23% of companies show readiness in this area. The role of governance is underlined as crucial, with Infosys' own Responsible AI Office playing a pivotal role in risk management. Upskilling remains a challenge, as only 21% of organisations feel their employees have the requisite AI knowledge, and a mere 12% offer adequate training solutions.

The report also outlines that data infrastructure preparation is vital, given only 10% of companies find their data easily accessible, with 30% rating their data processes as poor. Addressing data quality and system assessment is deemed necessary for effective AI implementation.

Infosys encourages a culture of innovation, stating that only 9% of businesses report being fully prepared in terms of foundational technologies.

Investing in machine learning and automation is suggested to enhance customer experience and reduce errors.

"To become enterprise-wide AI-ready and realise the promise of this technology, including gen AI, it is imperative to establish a robust and scalable foundation... This must be complemented by an AI foundry and factory model for scaling AI initiatives across the enterprise," Mohammed Rafee Tarafdar, Chief Technology Officer at Infosys, said.

"Our research found that Enterprise AI, including gen AI, promises to unlock up to 40% in productivity gains, yet only 2% of companies are truly ready... Those who act now... will not only lead the next wave of innovation but will fundamentally reshape their industries," Jeff Kavanaugh, Head of Infosys Knowledge Institute, added.

"AI is not a distant goal; it is the prerequisite foundation for future competitiveness."