“The Art of AI Maturity: Advancing from Practice to Performance” uncovers strategies for AI success through a holistic framework, which includes a new index to express company AI maturity on a 0-100 scale. According to the research, AI maturity is the degree to which organizations outperform their peers in a combination of AI-related foundational and differentiating capabilities. These capabilities include the technology (data, AI, cloud) as well as organizational strategy, Responsible AI, C-suite sponsorship, talent, and culture.
The research puts the median AI maturity of organizations at a moderate score of 36, revealing most companies have significant opportunities to generate greater value with AI. The research highlights a small group (12 percent) of organizations that already use AI to outpace their competitors. This group is dubbed AI Achievers, with a score of 64 on the maturity scale, almost doubling that of others and correlating with 50 percent higher revenue growth than their peers.
The analysis further shows that most companies (63 percent) are AI Experimenters, barely scratching the surface of AI’s potential with an AI maturity score of 29. AI Innovators (13 percent), scoring 50, and AI Builders (12 percent), at 44, are somewhat advanced in their level of AI maturity, but are still leaving the full value of AI untapped.
Examples for the current and projected future state of AI maturity by industry include the following:
- Tech firms already have a high AI maturity score of 54, which will rise moderately to 60 in 2024, but still position them at the pinnacle of AI maturity across all industries.
- In contrast, carmakers and suppliers will leap from a moderate 39 today to 57 in two years, betting on a significant surge in sales of AI-powered self-driving vehicles.
- Similarly, retail companies will evolve in their AI Maturity from 38 today to 54 in 2024. Notably, many retail companies show a deeper commitment to AI transformation than other industries.