68% of enterprises are investing in AI as part of their digital transformation strategy

Software company Okta has revealed that over half of companies are investing in artificial intelligence this year

68% of enterprises are investing in AI as part of their digital transformation strategy

According to Okta’s Digital Transformation Report, the vast majority of companies are now investing in artificial intelligence (AI). In fact, 68% of enterprises are investing in AI as part of their digital transformation strategy.

Commissined by Okta, Qualtrics conducted a survey with 1,050 IT, Security, and Engineering decision makers. Overall, respondents worked at global companies with over $1 billion in revenue, across multiple industries.

Top digital transformation technologies

Today, companies are investing in an array of “forward-looking” technologies in order to advance their digital transformation strategy. Within Okta’s survey pool, companies are currently investing in at least one of four technologies.

At present, 72% of respondents working on a formal digital transformation initiative are investing in the Internet of Things (IoT). Meanwhile, 61% are reportedly investing in blockchain.

Finally, 58% are currently investing in augmented reality. Of those working on a formal digital transformation strategy, 90% are investing in at lease one or more of the aforementioned technologies.

AI adoption barriers remain

This year, PwC predicts that AI will contribute up to $15.7 trillion to the global economy by 2030. Nevertheless, many business leaders remain unsure when it comes to deploying AI throughout their entire organisation.

In order to gauge how organisations are currently handling AI, PwC surveyed more than 1,000 US business executives. Of those already investigating or implementing AI, 20% said that they plan to deploy the technology enterprise-wide this year.

However, 27% have already implemented AI in multiple areas and 16% have executed pilot projects within discrete areas of the business. While 15% plan to deploy AI in multiple areas, 22% are investigating the use of AI in the enterprise.

As PwC notes, however, the AI environment is continually evolving. Despite this, “businesses can’t wait for the dust to settle” but instead must recognise that “AI adoption, which has happened in fits and starts, will accelerate in 2019” and thus react accordingly.

How important is AI when it comes to cybersecurity? Listen to our podcast with the Head of AI at Avast Security Rajarshi Gupta to find out