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AI: From Data to ROI Cognizant Report

If the COVID-19 crisis has revealed anything to business leaders, it’s the dire need for intelligent decision making. But even as businesses embrace AI, high ROI is not guaranteed. The groundbreaking research behind AI: From Data to ROI, was conducted during the outbreak and reveals executives are turning en masse to AI to make better, more intelligent decisions, especially when much of the information and decision models needed are fast-changing or unknown. In our global study of 1,200 companies, conducted in conjunction with Cognizant, almost two thirds of senior executives – regardless of industry or region – see AI as highly important to the future of their businesses.

To make it a game-changer and generate value, businesses must have the right data, plan, applications, skills and use cases, and they must focus on real business objectives and problems to solve. For beginners, the challenges can include limited AI skills and inflexible IT infrastructures; as companies scale AI across their organizations, other hurdles appear, including managing risks and ethics, and embedding AI into day-to-day business processes. Data modernization is a continual stumbling block; in fact, businesses spend about 35% of their AI budgets on data modernization, according to our study. Within this ebook, executives will find an evidence-based roadmap for supercharging their business performance with AI.

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