How COVID-19 changed demand for AI: research

Over 100 C-level analytic and data executives have been surveyed

AI COVID-19

How COVID-19 changed demand for AI: research. Source: shutterstock.com

57% of C-level executives think that the demand for AI products has risen as a result of COVID-19, according to the research.

This increased demand is expected to accelerate the work many data and analytics teams are doing to lay the foundations for AI.

Meanwhile, 93% of respondents said that ethical considerations represented a barrier to AI adoption within their organizations. Nevertheless, ensuring AI is used responsibly and ethically in the business context is a huge, but critical task.

96% of C-level data and analytics leaders have now put at least some ethical standards or processes in place.

There’s a lot of self-regulation that you need to do when using these tools. You want to use AI or machine learning to improve the service and products that you’re rendering to customers 
Jose A Murillo, CAO at Mexican bank Banorte

At the same time, 45% of the respondents have strong model governance and management rules in place to support ethical AI usage. This way, that becomes the most common approach to tackling the challenge.

We’ve reported that Royal Bank of Canada and its AI research institute Borealis AI have teamed up with Red Hat and NVIDIA to develop a new AI computing platform. The platform is designed to transform the customer banking experience and help keep pace with technology changes and evolving customer expectations.

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