Even though adopting AI technology is becoming more and more urgent, Singaporean organisations are not yet ready to take full use of AI’s potential. More than 8,000 companies globally went through a research done by Cisco.
According to the AI Readiness Index, just 13% of Singaporean organisations are completely equipped to use and make use of AI-powered technology. This disconnect between capabilities and goal is especially noticeable when integrating AI with already-existing data. More specifically, 84% of respondents said that their businesses’ data silos make it difficult for them to fully harness AI’s potential.
Notwithstanding these obstacles, Singapore is seeing a rise in the use of AI. Ninety-six percent of the organisations have either developed or implemented a strong AI strategy. Furthermore, almost two thirds (64%) belong to the Pacesettes or Chasers group, demonstrating that C-Suite executives and IT leadership place a high priority on AI readiness.
The fact that 95% of respondents said their businesses had seen a rise in the requirement for AI deployment during the previous six months emphasises the rising necessity of adopting AI. The highest priority areas for AI installations turned out to be cybersecurity and IT infrastructure.
“As organisations rush to deploy AI solutions, they must assess where investments are needed to ensure their infrastructure can best support the demands of AI workloads,” said Liz Centoni, Executive Vice-President and General Manager, Applications and CSO, Cisco. Companies must also be able to see, in context, how AI is applied to guarantee ROI, security, and most importantly, accountability.
President of Cisco ASEAN Tay Bee Kheng echoed Centoni’s thoughts by highlighting the necessity for a diversified approach to AI preparedness. In order to fully realise the promise of AI, he urged organisations to aggressively bridge the gaps across the six major business pillars. To remain ahead of the curve and improve their overall AI preparedness, companies should emphasise a holistic strategy that includes everything from putting in place a change management plan to making sure their IT infrastructure is future-ready.
