Submitted by: LexisNexis

Big Data and AI Trend Report

Big data and artificial intelligence (AI) adoption continued its progress from vision toward reality in 2019. Now at the start of a new decade, the scale and diversity of big data and AI applications across business and society hold much promise, but navigating from potential to practical application remains challenging.

While adoption of big data and AI applications has climbed across numerous industries, evidence shows that many organisations struggle to prove the return on investment of their efforts.

Effectively scaling big data and AI through the enterprise and taking them from buzzwords to business differentiators will be one of the pivotal challenges of 2020.

Big data and AI adoption is gaining momentum among organisations worldwide. Reports suggest the number of UK companies engaged in big data and AI initiatives has doubled in the past year.

This is supported by market projections from IDC, which predict worldwide revenues for big data and business analytics will reach $189.1 billion this year, a 12% rise on 2018. Revenues are forecast to reach $274.3 billion by 2022.

AI deployment is also on the rise. Analyst company Gartner reported that the percentage of organisations that have implemented some form of AI has grown from 4% in 2018 to 14% in 2019.

While these figures indicate the scale of enthusiasm for implementing AI and big data in the enterprise, it is still new technology, subject to all the challenges of integration with legacy systems, user adoption and ROI delivery.

A survey by analytics company Whishworks revealed 47% of big data strategists, architects and users said proving ROI from big data projects was “not easy”, while 53% said legacy technology was a key challenge to the adoption of big data technology.

Do you want to read more? You can download the complete trend report here

Big Data artificial intelligence AI Trends

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