AI and Business Analytics Tools Are Helping IT Professionals Steer Operations Across the Globe

The global reliance on business analytics and AI tools was quite staggering as organizations try to learn remote work’s effects on their IT frameworks. It’s not hyperbolic to say that the COVID pandemic completely altered the way organizations function. After employees increasingly transitioned to remote work, IT departments intervened in business operations to ensure that the disruptions to business operations were minimal. We surveyed 1,210 technology professionals to learn and understand the remote work’s effects on AI, business analytics, and technology adoption across the U.S., Canada, India, Singapore, the U.K., Australia, and New Zealand.

The participants were either directly responsible for IT or the procurement of business technologies at their respective organizations.

Survey Finds That Reliance on Business Analytics and AI Has Increased Exponentially

In the wake of the pandemic, the vast majority (89%) of organizations reported an increase in  the use of business analytics solutions. Decision makers reported that their reliance on business analytics tools was based on a need to make decisions faster (56%), to improve the use of available data (61%), and to improve decision-making (64%). 

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Breakdown Based on Job Titles and Region

In North America, the number of “executives” relying on business analytics was much higher than executives in other regions. A whopping 67% of North American executives reported that they had increased their use of business analytics tools; this was roughly 20% more than the executives in other regions. 

In order to cope with the precarious environment, IT personnel and C-level employees alike turned to artificial intelligence tools. In fact, the vast majority of organizations (86%) said they used more AI tools over the last two years, citing improvements in business insights, operations, and customer satisfaction as the primary reasons for doing so. 

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The Majority of Tech Executives Are Confident About AI 

Not only are technology executives using more AI-based tools, but these executives are feeling quite confident in the tools; 81% of survey respondents said their confidence in AI solutions had grown over the last two years, and 71% claimed that the use of AI had delivered measurable business results.  

This “confidence in AI solutions” number was high in all regions; however, it was particularly high in India, with 91% of Indian respondents reporting increased confidence in AI solutions. This is likely due to the fact that a great deal of Indian companies have started relying on AI-based solutions in recent years. Not only are the tools getting more sophisticated, but IT personnel are increasingly more confident in the AI tools’ ability to inform business decisions. 

Regional variations

In regard to the reliance on AI and business analytics, there were some interesting regional variations, to be sure. 

In Singapore, technology professionals said they relied on business analytics solutions in order to improve decision-making, make decisions faster, and use available data (69%). The average global percentage for “using available data” was 61% (significantly less than Singapore), suggesting that Singapore has been sitting on a great deal of data, and Singaporean companies are using business analytics solutions to put this data to work. Also, more than any other region, respondents from Singapore cited “increased competitiveness” as a reason for adopting new AI tools and analytics technologies, suggesting that Singaporean technology professionals view these tools as a viable way to gain market share.  

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In North America, 72% of executives reported using AI tools for “operational efficiency.” This was 10% more than the global average, leading analysts to infer that companies in the United States in Canada have been using AI-based tools for longer than other regions. 

Although only 50% of respondents from the United Kingdom reported using AI tools to increase operational efficiency, a whopping 93% of U.K. professionals said they believe that AI will meet their business expectations. 

Key Takeaways

Despite some regional differences, one thing is abundantly clear: technology professionals are relying on AI-based tools and business analytics solutions to steer their organizations during these turbulent times. These solutions are helping executives gain market share, increase customer satisfaction, and inform decision-making. It is unclear when the pandemic will finally be over, but until then—and likely afterwards—AI and business analytics tools will continue to help organizations thrive.

[To share your insights with us, please write to sghosh@martechseries.com]