The technology companies play a crucial role in driving innovation and transforming businesses across various sectors.
According to the TCS AI for Business Study, almost two-thirds of senior executives in technology companies are optimistic about the potential of AI to make a significant impact on their organizations. This report offers valuable insights into how companies in semiconductors, electronic systems and platforms, network technologies, software, and professional services are actively developing AI strategies to stay ahead in the game.
The report examines:
The driving factors for AI implementations in technology companies.
Many technology companies have a positive sentiment toward AI.
According to the study, most technology companies are preparing for AI with:
And
Yet there is no consensus on AI adoption strategies and not enough metrics to measure success, with:
76% of companies saying they need better KPIs for their AI implementations.
According to the AI for Business Study Technology report:
Yet there is a gap between aspiration and reality with:
What is hampering AI progress in technology companies?
When it comes to concerns about AI, especially with the raise of generative AI (GenAI), the following five strategic challenges are top of mind for technology companies, according to the study:
As the integration of AI into business processes accelerates, expected financial return on such an investment becomes increasingly significant. As shown in the study:
Most technology executives believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities that require creativity, empathy, and strategic thinking.
57% 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.
58% of technology companies expect up to half of their employees will be using GenAI every day in the next three years.
Innovation and revenue growth will be a focus for future AI implementations.
58% of pacesetters in technology companies — the financially overperforming companies we surveyed—are primarily focused on using AI to spur innovation.
Key findings for Semiconductor companies
Generative AI is a game-changer for semiconductor companies, unlocking unprecedented opportunities to revolutionize chip design, streamline operations, and elevate industry best practices. This report, based on insights from the TCS AI for Business Study, reveals how leading semiconductor firms are harnessing AI's transformative power to stay ahead in the fast-evolving tech landscape.
Concentrate on identifying AI use cases that deliver significant business value by enhancing operational efficiency through automation and predictive maintenance, enabling intelligent decision-making, optimizing value chains, and creating more personalized customer experiences. These strategic applications of AI will drive deeper engagement, increase revenue, and position your enterprise for sustained success.
Formulate a comprehensive AI strategy that not only boosts quality, reduces risks, and enhances operational efficiency but also aligns with your long-term business objectives. By adopting a multidimensional approach, your enterprise can build a resilient and adaptive organization, well-prepared to navigate the evolving landscape and achieve sustained growth through AI.
Prioritize both technological investment and cultural transformation. Foster a culture that embraces change, encourages experimentation, and promotes continuous learning while building the necessary infrastructure. By nurturing agility and openness aligned with your key business goals, your organization can seamlessly integrate AI technologies, driving long-term success and gaining a competitive edge.
Build deeper connections with your customers by leveraging AI to deliver personalized, proactive, and meaningful experiences at every touchpoint in their journey. AI empowers your company to anticipate customer needs, tailor interactions, and provide targeted information that not only enhances customer satisfaction but also sets your brand apart, strengthening loyalty, and driving long-term success.
Prepare for success by harnessing AI's potential to expand revenue opportunities and drive innovation. Embrace AI not just as a tool for automation, but as an accelerator for growth that will redefine roles, empower your workforce, and unlock new value. In the semiconductor industry, Generative AI is key to revolutionizing chip design, streamlining operations, and setting new benchmarks for best practices. By strategically adopting AI, your enterprise can lead the way in the digital era, staying ahead of the curve and thriving in a rapidly evolving landscape.
Prioritize enterprise readiness for scaling up successful pilot programs.
Success in the controlled environment of a pilot/POC exercise is no guarantee of success in scaled productionization. Invest in initiatives to prepare your data, tooling, architectures, and people for enterprise-wide AI adoption.
TCS’ Thought Leadership Institute conducted an anonymous 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 and Ireland, with respondents having an annual revenue of $5 billion to $100 billion. The technology companies findings are based on feedback received from 89 survey respondents. This global study examines how CEOs, LOBs, directors, and business line managers are preparing their business to be AI-ready, focusing on aspects such as their strategy around operations, talent, and future implementation plans. The study also provides best practice recommendations based on these insights.
