Working Together to Build a Big Data Future

To leverage Big Data and build an effective Artificial Intelligence infrastructure, enterprises must embrace collaboration.

In a digital economy, the rule of thumb tends to be that the smarter your use of data and technology, the more of a competitive edge your business has. A recent report by Teradata, based on over 260 interviews conducted by research firm Vanson Bourne with senior IT and business decision makers, found that there is widespread enthusiasm for adoption of AI, with 80 percent of enterprises reporting that they were already investing in the technology in some capacity, and over 30% planning to expand their investment in the are over the next 36 months.

“C-level executives — namely CIOs and CTOs, maintain they are committed to AI in their enterprise, because of the expected ROI over the next 10 years.” The report therefore concludes that executives will accept those challenges as the long-term benefits clearly outweigh near-term pain. In fact their analysis showed that over a five-year forecast, organisations effectively expected to double their money when investing in AI: For every $1 spent on AI technologies, organisations predicted a return on investment of $1.23 over three years, $1.99 in five years, and $2.87 over a ten-year period.