Cisco Launches New Research, Highlighting Seismic Gap in Companies' Preparedness for AI
Cisco Study Reveals only 14% of Global Organizations Are Fully Prepared to Deploy and Leverage AI, with More than Half Admitting Serious Concerns about the Impact to Business if They Fail to Act in the Next 12 Months
SAN JOSE, Calif., Nov. 14, 2023 /PRNewswire/ -- A mere 14% of organizations globally are fully prepared to deploy and leverage Artificial Intelligence (AI)-powered technologies, according to Cisco's (NASDAQ: CSCO) inaugural AI Readiness Index released today. The Index, which surveyed over 8,000 global companies, was developed in response to the accelerating adoption of AI, a generational shift that is impacting almost every area of business and daily life. The report highlights companies' preparedness to utilize and deploy AI, showcasing critical gaps across key business pillars and infrastructures that pose serious risks for the near future.
The new research finds that while AI adoption has been slowly progressing for decades, the advancements in Generative AI, coupled with public availability in the past year, are driving greater attention to the challenges, changes and new possibilities posed by the technology. While 84% of respondents believe AI will have a significant impact on their business operations, it also raises new issues around data privacy and security. The Index findings show that companies experience the most challenges when it comes to leveraging AI alongside their data. In fact, 81% of respondents admit that this is due to data existing in silos across their organizations.
However, there is also positive news. Findings from the Index revealed that companies are taking many proactive measures to prepare for an AI-centric future. When it came to building AI strategies, almost one-third of respondents were categorized as Pacesetters (fully prepared), which indicates a significant level of focus by C-Suite executives and IT leadership. This could be driven by the fact that most (97%) respondents said the urgency to deploy AI technologies in their organization has increased in the past six months, with IT infrastructure and cybersecurity reported as the top priority areas for AI deployments.
"The race to AI Readiness is on, with organizations under intense pressure to shift from strategic planning to execution mode in order to capitalize on the transformative potential that AI represents," said Liz Centoni, Executive Vice President and General Manager, Applications and Chief Strategy Officer, Cisco. "To realize the benefit of AI-powered products and services, companies need solutions that secure and observe their AI models and toolchains to ensure performance, secure sensitive data and systems, and deliver trustworthy and rsponsible AI outcomes."
Alongside the stark finding that overall, only 14% of companies are Pacesetters (fully prepared), the research found that more than half (52%) of companies globally are considered Laggards (unprepared) at 4%, or Followers (limited preparedness) at 48%. Some of the most significant findings include:
Cisco AI Readiness Index
The new Cisco AI Readiness Index is based on a double-blind survey of 8,161 private sector business and IT leaders across 30 markets, conducted by an independent third-party surveying respondents from companies with 500 or more employees. The Index assessed respondents' AI readiness across six key pillars: strategy, infrastructure, data, talent, governance, and culture.
Companies were examined on 49 different metrics across these six pillars to determine a readiness score for each, as well as an overall readiness score for the respondents' organization. Each indicator was assigned an individual weightage based on its relative importance to achieving readiness for the applicable pillar. Based on their overall score, Cisco has identified four groups at different levels of organizational readiness – Pacesetters (fully prepared), Chasers (moderately prepared), Followers (limited preparedness), and Laggards (unprepared).
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SOURCE Cisco Systems, Inc.
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