Boomi Releases Strategic Playbook for Effective AI Adoption
06 Agosto 2024 - 8:00AM
Business Wire
Boomi™, the intelligent integration and automation leader, today
announced the release of a new report, “A Playbook for Crafting AI
Strategy,” produced in collaboration with MIT Technology Review
Insights. This comprehensive study — which includes a global survey
of C-suite and senior data executives, including in-depth
interviews conducted with business leaders on data and AI — sheds
light on the current state of enterprise AI adoption, and offers
actionable strategies for navigating the transformative landscape
of artificial intelligence.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240806027370/en/
Boomi Releases Strategic Playbook for
Effective AI Adoption (Graphic: Business Wire)
As businesses grapple with ambitious AI predictions — such as
PwC's forecast that AI could contribute an astounding $15.7
trillion to global GDP by 20301 — major hurdles remain in the
journey from pilot projects to enterprise-wide deployment. As an
example, just 5.4% of US businesses utilized AI to produce a
product or service in 2024,2 signifying a pressing need for
strategic and organizational shifts to leverage AI effectively.
Key findings from the report highlight the following trends and
challenges:
- AI ambitions are substantial, but few have scaled beyond
pilots. Fully 95% of companies surveyed are already using AI
and 99% expect to in the future. But few organizations have
graduated beyond pilot projects: 76% have deployed AI in just one
to three use cases. As half of companies expect to fully deploy AI
across all business functions within two years, this year is key to
establishing foundations for enterprise-wide AI.
- AI-readiness spending is slated to rise significantly.
Overall, AI spending in 2022 and 2023 was modest or flat for most
companies, with only one in four increasing their spending by more
than a quarter. That is set to change in 2024, with nine in ten
respondents expecting to increase AI spending on data readiness
(including platform modernization, cloud migration, and data
quality) and in adjacent areas like strategy, cultural change, and
business models. Four in ten expect to increase spending by 10 to
24%, and one-third expect to increase spending by 25 to 49%.
- Data liquidity is one of the most important attributes for
AI deployment. The ability to seamlessly access, combine, and
analyze data from various sources enables firms to extract relevant
information and apply it effectively to specific business
scenarios. It also eliminates the need to sift through vast data
repositories, as the data is already curated and tailored to the
task at hand.
- Data quality is a major limitation for AI deployment.
Half of respondents cite data quality as the most limiting data
issue in deployment. This is especially true for larger firms with
more data and substantial investments in legacy IT infrastructure.
Companies with revenues of over $10 billion are the most likely to
cite both data quality and data infrastructure as limiters,
suggesting that organizations presiding over larger data
repositories find the problem substantially harder.
- Companies are not rushing into AI. Nearly all
organizations (98%) say they are willing to forgo being the first
to use AI if that ensures they can deliver it safely and securely.
Governance, security, and privacy are the biggest brake on the
speed of AI deployment, cited by 45% of respondents (and a full 65%
of respondents from the largest companies).
“Over the last year, organizations have come to understand the
power and potential of AI,” said Matt McLarty, CTO at Boomi. “This
year, those organizations are seeking to shift from small pilots to
enterprise-wide deployment of AI at scale.”
“A Playbook for Crafting AI Strategy” can assist with the next
steps of an AI journey, offering the following principles as
guidance:
- This is a critical year for building AI foundations. As
organizations strive to meet ambitious short-term AI goals, they
are discovering that having the right data foundation is critical.
Organizations are doubling down on investments in data quality,
data liquidity, and IT infrastructure.
- The highest-leverage AI use cases drive targeted,
business-specific results. Although general-purpose generative
AI use cases are increasingly simple to implement, they are equally
available to competitors and customers. The most valuable use cases
are those that create unique competitive advantages for the
business.
- Financial considerations and partnerships are key. This
year, the costs of AI — from GPUs to skilled talent to energy
consumption — must be accounted for, and a realistic approach to
measuring AI’s ROI must be developed. Because few organizations
will go it alone when it comes to AI, making decisions about the
right partners, vendors, and tools will be essential to most
companies’ AI futures.
- Speed of AI adoption is being moderated by a realistic
assessment of its risks. Organizations are rightly cautious
about the risks posed by injudicious use of AI, and essentially all
agree that caution is preferable to first-mover advantage when
scaling AI. An emerging regulatory environment and a better
understanding of how the risks of AI can be mitigated should serve
to speed adoption.
“The biggest factor holding back AI implementation is not
knowing where to start,” said Matt McLarty, CTO at Boomi. “You
don’t actually have to be an expert on how to create generative AI
in order to get value from generative AI. As organizations seek to
harness AI's transformative potential, our report serves as a
crucial playbook, guiding business leaders through the complexities
of AI strategy formulation.”
Download the complete report, “A Playbook for Crafting AI
Strategy.”
Additional Resources
- Learn more about the Boomi Enterprise Platform
- Follow Boomi on X (Twitter), LinkedIn, Facebook, and
YouTube
About Boomi Boomi, the intelligent integration and
automation leader, helps organizations around the world automate
and streamline critical processes to achieve business outcomes
faster. Harnessing advanced AI capabilities, the Boomi Enterprise
Platform seamlessly connects systems and manages data flows with
API management, integration, data management, and AI orchestration
in one comprehensive solution. With a customer base exceeding
20,000 companies globally and a rapidly expanding network of 800+
partners, Boomi is revolutionizing the way enterprises of all sizes
achieve business agility and operational excellence. Discover more
at boomi.com.
© 2024 Boomi, LP. Boomi, the ‘B’ logo, and Boomiverse are
trademarks of Boomi, LP or its subsidiaries or affiliates. All
rights reserved. Other names or marks may be the trademarks of
their respective owners.
__________________________ 1 Sizing the prize: What’s the real
value of AI for your business and how can you capitalise?” PwC,
2017,
https://preview.thenewsmarket.com/Previews/PWC/DocumentAssets/476830.pdf.
2 Richard Vanderford, “Generative AI Isn’t Ubiquitous in the
Business World—at Least Not Yet,” The Wall Street Journal, April 7,
2024,
https://www.wsj.com/articles/generative-ai-isnt-ubiquitous-in-the-business-worldat-least-not-yet-07c07f01?mod=tech_lead_pos3.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240806027370/en/
Media: Kristen Walker Global Corporate Communications
kristenwalker@boomi.com +1-415-613-8320