Modzy Research Reveals Challenges and Opportunities with AI Implementation in 2021 and Beyond
Critical Factors For Trustworthy AI Are Paramount Issues With AI Decision Makers
BETHESDA, Md.–(BUSINESS WIRE)–#AI—Modzy, a leading enterprise artificial intelligence platform, today published “The Race Towards Artificial Intelligence (AI) Adoption” – a report highlighting key challenges and opportunities of AI adoption.
In the next few years, many organizations will reach an inflection point for their AI technology programs. With 80% of decision-makers suggesting they will increase AI investment in the next 1-2 years, pressure will grow to demonstrate greater progress and value. But AI technologies will only achieve potential if organizations can integrate greater explainability, trust and security.
“2021 will be the year when those implementing AI will start achieving value at scale, while those spending months training brittle models and failing to catch up will be at an increasing, exponential, disadvantage,” said Josh Sullivan, head of Modzy. “Effective AI can drive an organization’s success by harnessing this powerful technology, but adoption begins with a fundamental shift in thinking and approach in order to overcome complexity obstacles.”
To underscore urgency, Modzy surveyed nearly 1,000 AI decision-makers at commercial enterprises and government agencies in the U.S. between October and November 2020. The survey gauged how organizations are investing in AI, benefits and barriers, and how respondents view the future of AI and its impact on their work. Key findings include:
Decision-makers are already experiencing the value of AI and expect a bright future
A majority (66%) of respondents are already experiencing significant value from their AI technologies, including increased profit and revenue, and accelerated progress towards goals.
Big data is driving AI success – but remains a roadblock for many organizations
The most common way organizations are utilizing and benefiting from AI is by analyzing large data sets and identifying patterns. However, many decision-makers say their organization either currently lacks important data inputs (49%) or is missing a clear strategy for acquiring and accessing data (42%).
Challenges of AI: Lack of explainability and trust
A majority (64%) of respondents say employees in their organization do not trust or understand AI-enabled recommendations. 59% say even data scientists do not fully understand how some algorithms work. This lack of trust is a top challenge for organizations adopting AI and underscores the fundamental need for explainability.
Security and ethics are paramount
There is a growing awareness of the importance of security and ethics considerations (e.g., privacy, data rights, bias and transparency) in AI development and applications. 72% of respondents have reported experiencing security breaches or threats to their AI systems and majority (90%) of decision-makers identify strong security features as a top priority in evaluating or purchasing AI technologies. 89% of respondents say that privacy and data rights are important when deploying AI.
You can read all the findings in Modzy’s “The Race Towards Artificial Intelligence (AI) Adoption” report.
Headquartered in Bethesda, Md., Modzy is the leading enterprise platform to secure, govern, and deploy Artificial Intelligence (AI) models. Modzy helps government and private-sector customers meet the challenge of operationalizing AI by enabling rapid deployment, management and governance of trusted AI. Modzy’s platform leverages embedded security, patent-pending adversarial defense, explainability of model predictions, and governance features to help customers easily manage and quickly benefit from their AI investments at enterprise scale. Modzy offers choice with ready-to-deploy pre-trained and trainable AI models from leading companies and open source communities. Modzy accelerates the deployment of trustworthy AI while increasing transparency, lowering the barriers to adopting and scaling AI. To learn more visit www.Modzy.com.