Artificial Intelligence (AI) is rapidly becoming the defining technology of the century. Organizations that are already expert in AI have delivered market-defining innovations. In 2018, Google autonomous driving startup Waymo launched the first autonomous driving fleet of cars with the use of AI. In 2020 Oxford-based AI startup Exscientia, in collaboration with the Japanese pharmaceutical firm Sumitomo Dainippon Pharma, delivered the first drug molecule invented entirely by artificial intelligence into clinical trials. The project took less than 12 months instead of the usual four to five years. Using AI to generate new medicines cuts cost of early-stage drug development by a third.
Artificial Intelligence has the potential to shift the landscape of most industries. The automation potential of AI alone can rapidly accelerate the pace of design cycles and innovation.
In the last two decades, the industry has seen waves of disruption from high tech and automotive to the industrial and energy sector, all caused by a shift to digital internet platforms. The clear lesson from recent history has been those who move early to focus on building out their capabilities in transformative technologies tend to survive and thrive, and those who don't quite often see a different fate.
This said, only a small number of organizations are using AI to meaningfully innovate. For example, a recent IDC survey suggests 29.4% of European organizations investing in emerging technologies are already using AI, a figure that's consistent globally. So why are only less than a third of organizations investing in a technology that will be so profound to nearly every industry?
Although introducing AI will come with its hurdles, those that start their innovation journey now will be able to lead their fields for decades to come.
In this webinar, we will discuss: