SOURCE: Narrative Science Inc.

Narrative Science Inc.

July 20, 2016 09:00 ET

62% of Organizations Will Be Using Artificial Intelligence (AI) Technologies by 2018

Senior Business Executives Surveyed on Their Perception and Use of AI

CHICAGO, IL--(Marketwired - July 20, 2016) - Narrative Science, the leader in advanced natural language generation (Advanced NLG) for the enterprise, today announced their second annual research report, "Outlook on Artificial Intelligence in the Enterprise 2016." Partnering with National Business Research Institute (NBRI), Narrative Science surveyed 235 business executives to understand the use, value, and impact of AI-powered business applications within their organizations. NBRI's analysis of the data revealed a few findings:

  • AI adoption is imminent, despite marketplace confusion - 38 percent of the survey group are using AI technologies, and of the respondents that don't have AI technologies deployed, 56 percent of the group plan to do so by 2018.
  • Predictive analytics is dominating the enterprise - 58 percent of respondents confirmed use of the technology.
  • The shortage of data science talent continues to affect organizations - 59 percent of respondents named 'shortage of data science talent' as the primary barrier to realizing value from their big data technologies.
  • Companies that generate the most value from their technology investments make innovation a priority - 61 percent of the respondents who have an innovation strategy are using AI to identify opportunities in data that would be otherwise missed while only 22 percent of respondents without a strategy could say the same thing.

"One of the major compelling differences in this year's survey compared to last year is the changing perception of AI technologies," said Stuart Frankel, CEO of Narrative Science. "This year, the conversations pertaining to AI are about the power of the partnership. There is growing awareness that AI technologies, when combined with human skills, is optimal because it produces results reaching beyond what either group could achieve alone."

To download the full research report, visit: https://narrativescience.com/OutlookAI2016

About Narrative Science
Narrative Science is the leader in advanced natural language generation for the enterprise. Its Quill platform, an intelligent system, analyzes data from disparate sources, understands what is interesting and important to the end user, and then automatically generates perfectly written narratives for any intended audience, at unlimited scale. A diverse range of companies such as USAA, American Century Investments, MasterCard, and the U.S. intelligence community utilize Quill to increase efficiency through the elimination of time-consuming, manual processes related to analyzing data and communicating insights, freeing employees to focus on high-value activities and better serving their customers.

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