Integration of AI significantly increases productivity of large number of companies: Report – Obnews

A growing number of companies today believe that artificial intelligence (AI) is the key to competitive advantage. According to a new report, these organizations have experienced a significant increase in productivity through AI integration.

According to BML Munjal University's 'Industry 5.0 and AI Report', 44 percent of organizations have reported a significant increase in productivity through AI integration.

Additionally, 21 percent said AI can play an important role in driving innovation and developing new products, services and business models. According to the report, this is especially being seen in areas like finance, healthcare, manufacturing and marketing.

The report said about 33 percent of organizations focus on product development, while 29 percent are leveraging AI for customer service through chatbots and robotic process automation (RPA).

About 19 percent of businesses use AI to analyze trends, while 13 percent are taking the help of AI to improve supply chain management. The report is based on responses from 1,000 professionals and in-depth conversations with 50 industry experts.

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