The AI market has astounding numbers as well. Studies say the AI market will reach $70 billion by 2020, and 72% of business leaders think AI is a “business advantage.” With all of the hype, one of the most significant barriers to both IoT and AI innovation is talent. A global survey of executives found that while business leaders think IoT will advance their companies, 31% said their organizations face a “major skills gap” in IoT. Similarly, a poll found that 56% of senior AI professionals say “a lack of talent is the greatest barrier to implementation within business operations.”
Given the incredible potential of IoT and AI, and due to the dramatic skills gap, many companies are turning to outsourcing. Global outsourcing firms have the talent to tackle IoT and AI projects, which comes as a relief to organizations ready to invest in this technology.
Why outsource IoT and AI?
It’s worth noting that as these technologies grow, humans are still needed to advance them. A report by McKinsey and Company noted that roughly 49% of activities that require human interaction and management — ranging from processing data to communicating with stakeholders — will be difficult to automate by 2030. While the robotic revolution would solve a lot of the skills gap problems, it’s unlikely to occur anytime soon. Therefore, companies are looking to outsourcing.
Whit Andrews, research vice president and distinguished analyst at Gartner, said, “Despite huge levels of interest in AI technologies, current implementations remain at quite low levels. However, there is potential for strong growth as CIOs begin piloting AI programs through a combination of buy, build and outsource efforts.”
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