At our recent TSIA ENVISION Conference, artificial intelligence (AI) stole the show, sparking deep dives into both its vast potential and accompanying challenges. While the path ahead for AI is still shrouded in some mystery, the event made one thing clear: we're at an exciting crossroads.
Thanks to a series of revealing polls conducted by TSIA, we now have a snapshot of the industry’s current AI landscape. Dive in with us as we unpack these insights and explore the future of AI in the technology and services industry.
Taking the First AI Steps
According to the AI Impact on Professional Services poll, most companies are still in the early stages of AI adoption. While a small fraction have established more mature AI capabilities, the larger portion is still exploring possibilities or kick-starting pilot projects.
The Rise of Natural Language Processing (NLP)
Natural Language Processing (NLP), a fascinating subfield of AI, is beginning to leave its mark. Per the Use of AI in Renewals poll:
- 29% of respondents already leverage NLP in their operations
- An additional third are eyeing its adoption in the near future
- NLP’s current applications span various domains, from customer services and sentiment analysis to, more scarcely, predictive analytics and tailored marketing
Exploring Generative AI in Support Services
Similarly, Generative AI is creating quite a stir within support organizations. Results from the Generative AI Impact on Support Services quick poll underscore this trend:
- Over two-thirds of responding companies are actively experimenting with this technology in-house
- Intriguingly, half of these experimenters are already translating their learnings into customer-facing solutions
This trajectory seems to align with TSIA’s guidance: Start internally, fine-tune the process, and then venture outward.
AI's Role in Daily Operations
Delving into the results of our Offering Management in the Age of AI poll, AI's versatility becomes even more evident:
- 41% of companies harness AI for in-house training and documentation
- 31% utilize it for routine tasks like scheduling and automation
However, it’s worth mentioning that there’s still no blueprint for AI usage, with companies applying it in myriad ways.
Deepening Market Discovery with AI
AI's adaptability shines again when used for market discovery:
- Over a third of companies employ AI to spot gaps in the customer experience
- 24% utilize it to fathom the nuances of their target market
What is the consensus among professional services organizations? AI’s forte lies in data analysis, insight generation, and streamlining operations. But, when it comes to employing AI in service delivery, there’s no universal playbook. Leading the pack are NLP or translation services and efforts to digitize the customer journey.
In this evolving landscape, one thing’s certain: Companies steadily recognize AI’s potential and are keen to harness its power.
Navigating the Roadblocks: Funding and Implementing AI
Diving into the AI Impact on Professional Services poll, a glaring revelation emerges: A vast majority of respondents admit they’re sailing without a formal compass in both AI development and planning. This absence of a well-defined roadmap means industry-wide practices remain elusive.
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Financing AI: An Ambiguous Terrain
When it comes to bankrolling AI projects:
- A significant 40% of participants are still searching for a dedicated budget source
- Roughly 30% earmark funds for AI within professional services
The question of who champions the AI initiative’s formal processes is yet to have a unanimous answer. Similarly, the hunt for a consistent funding body in support services remains ongoing, with the Generative AI Impact on Support Services poll showing a split ticket between support-only, cross-business unit, and corporate-wide funding models.
NLP Adoption: Uncertainties and Challenges
Natural Language Processing (NLP) isn’t without its own set of hurdles:
- A primary concern is the nebulous nature of its return on investment
- About half of the survey takers concede that their understanding of NLP is still in its infancy
- A smaller segment points to a scarcity of adept personnel as a stumbling block
Perceived Risks in AI Deployment
As organizations flirt with AI’s potential, certain apprehensions come to the forefront:
- A prominent 46% of respondents are wary of the quality of AI responses, especially the lurking danger of spreading misinformation
- Intellectual property leaks are another red flag, raising alarms for 34% of participants
In the AI landscape, while the promise of transformative outcomes beckons, the road is fraught with challenges that demand keen attention and strategized action.
Deciphering AI’s Path with TSIA’s Insights
As we stand at the crossroads of AI’s future, the direction forward may seem clouded. However, TSIA’s timely polls are here to serve as a guiding light, offering us a glimpse into the industry’s current environment. With companies venturing into AI’s territories, the quest for a universal playbook continues. These initial insights from TSIA are just the tip of the iceberg. As we roll out more quick polls, your participation becomes crucial. Get involved and ensure you’re in the loop to access comprehensive results and shape the narrative of AI’s journey ahead!