Blog Details
Recent survey results findings
Summary
Artificial Intelligence (AI) has rapidly transformed various sectors, bringing about significant advancements and improvements in efficiency, productivity, and overall user experience. Mavryck took a few questions to select the sample size to further understand its importance, fears and goals. Our findings in this report present a short survey conducted to assess the perceived benefits of AI across multiple industries. The survey targeted individuals and organizations actively engaged or preparing to engage with AI technologies, aiming to provide insights.
The How
The survey was distributed via email globally to a wide variety of participants, including senior managers and directors in construction, infrastructure and manufacturing. We encouraged the recipient to participate in a short, 15-minute call to answer the questions. One interesting tidbit of information was that not one responder opted to email back, instead, they opted to book time and speak with us. The respondents offered their take on AI with many stating some similarities. The survey comprised questions related to the perceived benefits, challenges faced, and future expectations concerning AI adoption.
The Answers
Productivity
The overwhelming message received was AI ultimate influence on productivity. What they wanted to make clear is they are looking for more efficient ways to enhance their processes. Instead of one worker spending 6 hours on report building, it can be cut down to 1 or 2. Thus giving the worker more time to tackle other tasks. Automation of repetitive tasks, data analysis, and decision-making processes were highlighted as key contributors to streamlined operations and reduced manual workload.
Improved Decision-Making
Respondents acknowledged that AI has played a pivotal role in enhancing decision-making processes. The ability of AI systems to analyze vast datasets in real-time and provide actionable insights has empowered businesses to make informed, data-driven decisions. We complimented the fact that firms are always looking to streamline processes to ensure mistakes are not made. Reducing the probability of errors ensures the firm will maintain higher results and success.
Cost Management
A notable finding was the unanimous agreement that AI implementation led to cost reduction. By automating tasks, optimizing resource allocation, and minimizing errors, organizations reported substantial savings in operational costs. For example, one of the largest expenses a company will have will be the worker’s salaries. These organizations made it clear that they did not aim to reduce the hours already scheduled but to reduce the likeliness of tasks taking longer to complete. A huge factor was the allocated budget for salaries was predictable in the sense that no unforeseen overtime was tagged to a specific project. This created the knock-off effect of employees knowing their schedule was very rigid.
Enhancing Customer Experience
What was not in our plan of discussion was this enhancement. The idea of companies' websites being aided by a chatbot. We are seeing more and more companies deploy chatbots to guide visitors and shoppers to the correct section. This response was gathered from more customer-centric corporations. More manufacturing than construction/energy companies is where we found this. 3 out of 4 respondents expressed that AI applications can significantly improve customer experience. Chatbots, personalized recommendations, and predictive analytics were cited as crucial tools in understanding customer needs and providing tailored services.
Innovation
Innovation brings effective change to an organization. Over 3 out of 5 respondents surveyed agreed that AI has accelerated innovation within their organizations. Having employees complete tasks quicker, and having managers make decisions faster helps organizations maintain their competitive advantage. For more product-oriented companies, they saw the opportunity to automate routine tasks, employees would focus on creative and strategic endeavors, leading to the development of novel products and services.
Fears
While the benefits of AI were plentiful, respondents also mentioned a consistent picture of certain challenges associated with AI. The most common concerns included regulations, training and public perception. Where is the line drawn for what AI can and cannot do? Who monitors AI and their doings? To create some sort of regulatory body to create a benchmark. The question of how much training would be necessary to bring up to speed new technology for established employees. The company may see an immediate decrease in output. The public have had a mixed view of AI. They admire its innovation and ease of use but too many incidents of AI being seen as a direct replacement for the exact workers they were meant to help. It would take one company to exploit AI to ruin the perception of the good it could bring.
Conclusion
The survey results clearly demonstrate that AI will become a powerful force across various industries, offering immediate results such as enhanced efficiency, improved decision-making, cost management, improved customer experience, and advancing innovation. As organizations continue to harness the power of AI, addressing challenges and ensuring responsible implementation will be key to maximizing the potential benefits in the years to come. The companies we spoke with all understood the human factor AI will have within their day-to-day operations. Yes, tasks will be easier to complete but at what cost? It will take a few more years to see the initial effects of the introduction to AI, until then, companies and workers alike push forward with innovation.