These AI goals are closely aligned with organizations’ general business transformation goals—which largely focus on agility in the face of constant change, regardless of industry.
In banking, top priorities include improving access to quality data and adapting legacy systems to comply with new regulations. Unsurprisingly, 57% of IT executives mentioned increasing efficiency and agility as a top-three priority, while 20% had it as their top priority.
Likewise, healthcare providers are seeking improvements in compliance, decision-making, and efficiency from digital transformation. This transformation will also hopefully foster productivity and improved care delivery by enabling ethical AI that can automate repetitive tasks and identify anomalies.
Similarly, hospitality IT executives are looking for ways to fight back against mounting industry challenges. As increased operational costs and labor shortages dramatically change the hospitality landscape, organizations need cloud-based systems that help them evaluate and pivot to new business models and tap into alternative revenue streams.
This holds true across retail organizations as well, where 44% of respondents said their current systems provide limited visibility into operations, creating a lack of confidence in the data used to drive decision-making.
Insurance is familiar with growing industry challenges as its business model confronts climate change. In the face of this uncertainty, IDC found that 70% of organizations express pessimism about insurance market prospects or feel unprepared for future disruptions. To respond, insurers need to digitally transform to enable easier access to data and better decisions in underwriting, policy management, and claims processing.
In the media and entertainment world, a rocky transition to digital revenue models has created a fragmented ecosystem that lacks efficient operations. Some 51% of IT leaders in these fields say they struggle with cumbersome manual processes, while 45% say they must manage fragmented systems across production, distribution, and monetization.