Uncovering the Strategies for AI Success

Companies across industries are investing in AI to improve customer service, increase efficiency, empower employees and so much more. ?The automotive industry has its sight set on AI-powered self-driving vehicles.?Aerospace and defense companies continue to innovate around AI-enabled remote systems and life sciences companies are increasingly looking to AI for more efficient drug development.?According to Accenture research, half of U.S. companies increased their investment in AI during the pandemic.?

?AI is taking center stage for good reason. There is growing consensus among executives that AI is essential to competitive advantage. As Accenture’s CEO Julie Sweet says, “companies of all sizes must grasp a truism that has redefined the digital landscape: Cloud is the enabler; data is the driver; and AI is the differentiator.” ?However, when it comes to making the most of their investments in AI, most organizations are barely scratching the surface.

To uncover strategies for AI success, Accenture designed a holistic AI-maturity framework, using AI-enabled analysis to identify drivers of AI maturity that would have been impossible to detect using more traditional analytical methods. Our research found that AI maturity comes down to mastering a set of key capabilities in the right combinations to create a strong competitive advantage.?This includes foundational AI capabilities—like cloud platforms and tools, data platforms, architecture and governance—that are required to keep pace with competitors. It also includes “differentiation” AI capabilities, like AI strategy and C-suite sponsorship, combined with a culture of innovation that can set companies apart.

?Among the approximately 1,200 companies globally that Accenture analyzed, we found that only 12% have advanced their AI maturity enough to achieve superior growth and business transformation. ?So how are these “AI Achievers” mastering the art of AI??Our research uncovered five key success factors:

Champion AI as a strategic priority for the entire organization, with full sponsorship from leadership.

Achievers have a clear AI strategy that is enthusiastically supported by fthe CEO and the rest of the C-suite. They deliberately and strategically create a culture of innovation and support that culture with systems and structures that help employees showcase their innovation experiments and seek constructive feedback from leadership.

?Invest heavily in talent to get more from AI investments

Achievers more often invest heavily in creating data and AI fluency across their workforces through such actions as mandatory AI trainings for most employees. Because Achievers prioritize efforts to build AI literacy in their workforces, it’s no surprise that their employees are also more proficient in AI-related skills. Achievers also develop proactive AI talent strategies to stay at the forefront of industry trends.

?Industrialize AI tools and teams to create an AI core

Achievers have an operational data and AI platform that helps them productize their AI applications and integrate AI into other applications, which makes differentiation with AI more seamless. ?Their “AI core” works across the cloud continuum, provides end-to-end data capabilities, manages the machine learning lifecycle and provides self-service capabilities.

?Design AI responsibly, from the start

As companies deploy AI for a growing range of tasks, adhering to laws, regulations and ethical norms is critical to building a sound data and AI foundation. Achievers are consciously applying responsible AI with greater urgency than their peers. They are designing, developing and deploying AI with good intention to empower employees and to fairly impact customers and society.

?Prioritize long- and short-term AI investments

One reason Achievers get more out of AI is because they invest more in it. We found that in 2018, Achievers devoted 14% of their total technology budgets to AI, while in 2021 they devoted 28%. In 2024, they plan to devote 34%. Achievers also understand that they have only scratched the surface of their AI transformations and that the quality of their investments matters just as much as the quantity.

?As AI technologies become more prevalent, the future of business is going to look very different—some will lead the change, and some will be subjected to it. Which will you be??

?You can learn more about the strategies and key capabilities for AI success in our new research report, “The Art of AI Maturity.”