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Generative AI Will Play Big Role In Merging Physical, Digital Worlds For Businesses: Accenture Research

But most leaders agree that AI cannot reach its full potential until companies figure out data, according to the research

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New research has found that generative AI and other rapidly evolving technologies will usher in a future for business which will bring physical and digital worlds together.

Accenture in its report estimates that as much as 40 per cent of all working hours will be supported or augmented by language-based AI. Among business leaders, 98 per cent of respondents agree AI foundation models will play an important role in their organisation’s strategies over the next three to five years.

“The next decade will be defined by three mega technology trends—cloud, metaverse and AI—which collectively will collapse the distance of our digital and physical worlds,” said Paul Daugherty, group chief executive of Accenture Technology.

“While generative AI will have far-reaching impact, leaders must dive in now to achieve its full promise, as it will require significant investments in data, people, and customizing foundation models to meet organizations’ unique needs,” he added.

The report found that nearly all executives agree that generative AI will spark significant creativity and innovation (98 per cent) and usher in a new era of enterprise intelligence (95 per cent). Also, the ability to authenticate digital users and assets—the foundation for traversing digital and physical worlds—is now seen by 85 per cent of executives as a strategic business imperative, not just a technical issue.

But the research report also surmised that AI cannot reach its full potential until companies figure out data. “That means breaking down data silos and modernising their data foundations. In fact, 90 per cent of executives believe data is becoming a key competitive differentiator within organisations and across industries.”

Tags assigned to this article:
Generative AI Artificial Intelligence (AI)