64% of businesses say AI helps them gain a competitive edge

Last updated: 08-10-2020

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64% of businesses say AI helps them gain a competitive edge

In Deloitte’s third edition of the “State of AI in the Enterprise” survey, conducted between October and December 2019, the authors suggest that businesses are now entering an age of Pervasive AI, where its use is becoming more and more widespread. 

In fact, 74% of the businesses surveyed think that AI will be fully integrated into all aspects of their business in the next three years, and 64% say it enables them to gain a competitive edge. 

As AI becomes more pervasive, Deloitte’s survey claims that we are now moving from the “early adopter” phase of AI’s use, to the “early majority” phase, where many more businesses are starting to invest in AI and are increasingly convinced of its benefits. The businesses surveyed were split into three types of AI adopter: starters (27%), skilled (47%) and seasoned (26%). 

So how do different adopters use AI, and what are their reasons for integrating it into their business operations? While all adopters reported that they used AI to boost their business’ efficiency, the more mature adopters have taken this a step further, and use it to boost their differentiation, creating new products and ways of working with the help of technology. 

73% of businesses say AI is “very” or “critically” important to their business today; amongst seasoned adopters, this figure rose to 90%. From the survey’s findings, the authors recommend the following, as AI becomes increasingly commonplace in business operations:

Looking specifically at competitive advantage, 26% of all respondents said AI enables them to establish a significant lead over the competition - and for seasoned adopters, this figure rose to 45%. In terms of return on investment, seasoned adopters reported that they typically achieve payback in a shorter amount of time than their starter/skilled counterparts; 81% said their payback period is less than two years. 

The survey also found a “preparedness gap” amongst adopters; while many are enthusiastic to adopt new technologies, they also have reservations about some of the emerging risks. 56% of respondents agreed that their businesses were slowing their adoption of AI because of potential risks.

So how can businesses adopt AI to move in the right direction and stay ahead of the competition, whilst also ensuring that their enterprise remains protected? Deloitte’s survey provides three key tips:

Video analytics is a particular kind of AI that helps the security industry handle incidents more quickly and effectively, by flagging potential risks found in security camera footage.

Calipsa’s False Alarm Filtering Platform uses a particular type of machine learning known as computer vision, to spot the difference between human and non-human activity. To find out more about machine learning and computer vision, check out some of our previous articles. 

By teaching our machine learning model to differentiate between genuine alarms and nuisance alarms, our video analytics solution helps video monitoring operators spot real threats much more easily.

Removing the ‘noise’ of false alarms also helps to boost morale and productivity, since the time spent reviewing false alarms is often drastically reduced - in several cases, Calipsa has reduced false alarms by as much as 98%. 

So where does video analytics technology like Calipsa’s fit into the overall picture of AI adoption? Deloitte’s survey showed that 67% of respondents currently used machine learning technology, and 97% are using or planning to use it in the next year. As for computer vision, 56% reported they are using it today, with 94% using or planning to use it next year. 

Want to know how intelligent video analytics can help your business gain a competitive edge, improve efficiency and provide differentiated service?


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