A current study examines the economic challenges of investing in artificial intelligence. Managers report positive impacts in three areas.
Technology has not only been an important factor for financial service providers since the digital transformation. On the bank's blog, you will find studies on the most important trends and developments.
Despite negative economic indicators, German companies are investing heavily in artificial intelligence technologies. This is what was shown by a recent study conducted by the multinational software company ABBYY. The study examines investments in AI, expected and achieved returns, budget priorities, technologies and processes used, as well as benefits achieved and employee attitudes.
86% of German IT managers have AI strategies. 40% of them are based on 3-5 year plans in which top priority is given to revenue-generating processes such as business operations, marketing, product development, sales (in terms of customer experience) and logistics.
Three impacts of artificial intelligence
According to the analysis, 86% of German companies increased their investments in artificial intelligence in 2023. 51% plan to continue investing despite the difficult economic situation.
IT leaders report significant positive impacts
- customer benefit,
- Employee satisfaction and
- Profitability of artificial intelligence investments in the company
Globally, the survey results also show that companies of all sizes now place a greater value on intelligent automation. In this field, the increase in artificial intelligence investments reaches 35 percent. This indicates a growing recognition that AI is playing an increasingly important role in achieving competitive advantages over other companies.
Intelligent automation increases employee satisfaction
58% of those surveyed reported. The use of intelligent automation increases employee satisfaction. 55% also stated that employees were relieved of routine tasks. This enables increased customer focus and sales-oriented activities.
For 54%, encouraging innovation is a priority, and 46% see an upward trend in employee retention through the introduction of smart automation. Improvements in efficiency and productivity (48 percent each) are just as important to companies as improving employees' work-life balance (27 percent). 34 percent also reported a reduction in work stress.
Premium subscribers to the Bank's blog enjoy direct and free access to reference information on studies and white papers.
Not a super reader yet?
Premium Bank Blog subscribers have direct access to all paid content on the Bank Blog (study resources, e-books, etc.) and many other benefits.
>>> Register here <<
New: Daily ticket to study
Do you want direct access to individual studies but don't want to get a premium subscription right away? Then the New Studies Day Pass is just right for you. It gives you direct access to all study resources for 24 hours.
>>> Buy a day ticket to study <<
Service from the bank's blog
The bank blog regularly scans a large number of studies/white papers for you and presents the relevant ones here. As a private service, the purchasing and download options are taken care of for you, and you are redirected directly to the service provider's website. As a premium subscriber, you support this service and reporting on the Bank's blog.
“Certified tv guru. Reader. Professional writer. Avid introvert. Extreme pop culture buff.”
More Stories
New at Pinakothek der Moderne: Shylight – a thriving blend of art, nature and technology
ARKit: This is how Apple's augmented reality technology works
Monport is revolutionizing DIY projects with fiber laser technology