A Gartner survey indicates that 95 per cent of CIOs expect their jobs to change or be remixed due to digitalization.
It’s not just CEO’s but also Chief Information Officers (CIOs) around the globe and the region who are feeling the pressure of digitalization, so much so that AI could become the new boss around the workplace.CIOs in Asia/Pacific report higher adoption of disruptive technologies such as the Internet of Things (IoT), artificial intelligence (AI) and conversational interfaces than their global peers, according to an annual survey of CIOs by Gartner.
Some 43 per cent said they have deployed or are in short-term planning for deployment of IoT technologies (compared to 37 per cent globally) and 37 percent for AI (compared to 25 per cent globally). Investments have been made in conversational interfaces by 28 per cent and virtual reality (VR) and augmented reality (AR) by 20 per cent. Thirteen percent have adopted blockchain or distributed ledger technology, compared to 9 per cent globally.
A new survey by US cloud computing company ServiceNow finds that machine learning has arrived in the enterprise, making material contributions to everyday work. It is estimated that investment in machine learning will nearly double by 2020 .
The survey finds a growing sense of confidence among senior executives that machine learning will lead to faster and more accurate decisions, as software could analyze and improve performance without direct human intervention, allowing increasingly complex decisions over time.
Stunning numbers- Humans beware!
52 per cent of respondents say they are advancing beyond the automation of routine tasks, such as security alerts, towards the automation of complex decisions, such as how to respond to alerts.
69 per cent believe machine learning decision will be more accurate than those made by humans.
57 per cent said that routine decision making takes up a meaningful amount of employee and executive time, so the potential value of automation is high.
CIOs expect this decision automation to contribute to their organization’s top line growth.
“We see three kinds of decisions as targets for automation—anything requiring rating, ranking or forecasting,” Chris Bedi, CIO at ServiceNow.
“Everyday work such as the assignment of IT tickets and prioritizing sales leads are already delivering results. Machine learning has moved from hype to reality.”
Machine learning specialists alone won’t help CIOs succeed in digital transformation.
Nearly three-quarters of CIOs surveyed said they are leading their company’s digitalization efforts, and nearly half of CIOs say their companies are using machine learning and 40 per cent are planning to adopt the technology.
However, only 27 per cent of CIOs have hired employees with new skill sets to work with intelligent machines and about half say they lack budget for new skills development.
And when machines make mistakes, which they will do, only 45 per cent have developed methods for monitoring these slip-ups, which could be costly.
First mover CIOs surveyed, comprising about 10 per cent of the total, went ahead with machine learning and 75 percent of them have redesigned job descriptions to focus on work with machines
Five Steps to Achieve Value from Machine Learning
ServiceNow recommends how CIOs can jump start their journey to digital transformation with machine learning:
1- Build the foundation and improve data quality.
2- Prioritize on services that are most commonly used
3- Imagine and build an exceptional customer experience.
4- Attract new skills and double down on culture of new working model.
5- Measure and report.