TCS AI for Business Study Key Findings

Reimagining business with AI

Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI, and:

Managing their AI strategy
Making their organization AI-ready
Evaluating the potential value of AI for their business
Balancing opportunity with risk

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RESEARCH

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The transformative power of AI

Most executives surveyed have a positive sentiment toward AI.

54% believe its impact will be greater than or equal to the internet.
59% believe AI’s impact will be greater than or equal to that of smartphones.
57% are excited or optimistic about AI’s potential impact on their business.
Nearly three-quarters of them also recognize the need to make changes to take full advantage of AI.
72% are currently reworking or planning to rework their business strategy or operations.

Yet there’s no consensus on AI adoption strategies and not enough metrics to measure success.

72% say they need better KPIs for their AI implementations.

Current state of AI

59% of corporate functions have AI implementations in-process or have completed AI projects.

34% of corporate functions are planning AI implementations.

Only 20% of corporate leaders say they are well-positioned to leverage AI to their strategic advantage.

Challenges for GenAI

The advent of Generative AI has brought strategic challenges to the forefront.

Security and privacy
Ethical and responsible AI use
Lack of IT readiness 
Talent development and training 
Cultural shifts

Not enough metrics for ROI

As the integration of AI into business processes accelerates, expected financial return on such an investment becomes increasingly significant. But only 19% of the respondents said they have "good enough" metrics and KPIs for their current stage of AI deployments. Without adequate KPIs for AI-enabled operations, proving ROI and getting future buy-in is challenging.

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Quick takeaways

The study reveals

Key findings

Future of AI

Most executives believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities that require creativity, empathy, and strategic thinking.

65% of companies think human strategic decision-making and creativity will remain essential to their competitive advantage.

As AI becomes more advanced and part of “business as usual,” the role of humans in the workplace will evolve. 41% of companies expect most of their employees will be using GenAI on a daily basis in three years.

Innovation and revenue growth will be a focus for future AI implementations. 69% of companies are more focused on using AI to spur innovation and increase revenue than on lowering costs and optimizing operations.

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GenAI Implementations

The study reveals

TCS recommendations

Focus on the value, not the technology

Embrace AI initiatives that support organizational priorities and use cases with the potential to enhance value chains and drive business outcomes like revenue growth, cost savings, and improved customer experience.

Adopt a more strategic approach

Create a multidimensional approach to AI adoption that encompasses strategic goals beyond productivity and revenue growth to include quality, reducing risk, improving operational efficiencies and organizational decision making.

Make the business and culture AI-ready

Invest not only in the necessary technology and infrastructure, but also on a culture that embraces change, experimentation, and continuous learning.

Create higher-level relationships with customers

Capitalize on AI’s capabilities to deliver more personalized, proactive and valuable experiences across the customer journey and differentiate your business from the competition.

Plan for success, not scarcity

Be ready for AI to expand revenue, opportunity and innovation and create new ways for humans to do their current jobs or even create new roles.

TCS AI for Business Study – Industry Reports

BFSI

CMI

Consumer packaged goods

man sitting near beach working on laptop

Energy, resources & utilities

About the study

TCS’ Thought Leadership Institute conducted a double-blinded study of approximately 1,272 senior executives with P&L responsibilities in 12 industry sectors across Asia, Europe, Nordics, LATAM, North America and the United Kingdom/Ireland, with respondents having annual revenue of $5 billion to $100 billion.
This global study examines how CEOs, LOBs, directors/business line managers are preparing their business to be AI-ready, including their strategy around operations, talent and future implementation plans, and provides best practice recommendations based on these insights.

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Reimagining business with AI

RESEARCH

The transformative power of AI

Sentiment around AI

Current state of AI

Surveyed executives identify their main challenges

Challenges for GenAI

Not enough metrics for ROI

Quick takeaways

The study reveals

The study reveals

The study reveals

Key findings

GenAI Implementations

The study reveals

The study reveals

The study reveals

TCS recommendations

Focus on the value, not the technology

Adopt a more strategic approach

Make the business and culture AI-ready

Create higher-level relationships with customers

Plan for success, not scarcity

TCS AI for Business Study – Industry Reports

BFSI

CMI

Consumer packaged goods

Energy, resources & utilities

Healthcare

Life sciences

Logistics

Manufacturing

Retail

Technology

TTH

About the study

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