Today, Avasant unveiled its pioneering RadarView™ market assessment for Applied AI and Advanced Analytics Services. The RadarView™ report covers the top 24 service providers that have shown mature capabilities, future-aligned investments and innovations, and consistent growth in their AI and Analytics offerings. The report categorizes the top service providers as follows:
- Leaders: Accenture, Cognizant, HCL, IBM, Infosys, TCS, Tech Mahindra and Wipro
- Innovators: Atos|Syntel, Capgemini, DXC, LTI, Mindtree, NTT and Zensar
- Disruptors: EXL Services, Genpact, Happiest Minds, Mphasis and Persistent Systems
- Challengers: CSS Corp, ITC Infotech, Virtusa and WNS
Download Avasant’s complimentary 86-page report here.
Avasant’s CEO, Kevin S. Parikh, congratulated the winners noting, “AI is fundamentally transforming enterprises by changing business models, deepening customer engagement, enhancing productivity intelligently and strengthening supply chain integration. AI is helping enterprises discover new revenue streams, launch new products and become faster and smarter. Today organizations recognize that AI when leveraged with Advanced Analytics and other complementing technologies such as Blockchain, IOT and Intelligent Automation among others can unlock true potential of digital transformation.”
Artificial Intelligence is increasingly being leveraged by innovative enterprises to gain a competitive edge. In the majority of the enterprises, Applied AI and Advanced Analytics are being leveraged to enable revenue growth, compliance, customer retention and operational effectiveness. Data is the fuel for AI and when combined with other complementing digital technologies, AI can unlock true enterprise value. Enterprises who have successfully been able to achieve that have led their industries.
Key research findings include:
- Over 70% of Global 2000 organizations are leveraging AI to enable operational effectiveness, customer retention, compliance and revenue growth. Using AI in conjunction with big data/analytics across enterprise value chains , organizations are developing multiple operating models and generating new revenue streams.
- Numerous point solutions are emerging across industries, and within these point solutions OCR, NLP, ML and Big data led applications have seen the highest enterprise adoption. These point solutions reach production stage rapidly, but scaling across the value chain is a challenge
- Highly digitalized and direct consumer facing industries such as banking, retail and travel and transportation have seen highest AI adoption, while other industries such as healthcare, financial services, high tech have also accelerated adoption.
- The demand for Data Scientists roles since 2012 has grown over 650%, with BFSI contributing more than half of the demand in these jobs. Additionally, enterprises are also introducing new CXO roles including chief data officer (CDO) and chief artificial intelligence officer (CAIO) to address the new AI reality
- Service providers are investing in expanding orchestration capabilities and acquiring niche firms. Acquisitions across the AI startup community have become increasingly prevalent. On the other hand, enterprises are also acquiring AI solution providers to transform their businesses and accelerate disruptive product development.
- The largest technology providers – Google, Amazon, Microsoft and IBM have largely developed their AI capabilities leveraging a combination of acquisition and strategic investments. Over the years, Most toolsets and implementations leverage core technologies from these four technology providers.
Avasant’s Associate Director, Chirag Rawat, added “As enterprises begin to uncover their data and discover insights into their customers, operations and partners, they will need AI to enable speed and intelligence in their processes, people and technology. Enterprises will need to strategize and implement cutting edge business and operating models, hire new talent for adopting and developing digital applications and rethink their processes and value chains. Further, AI when integrated with other disruptive technologies will fundamentally reshape the DNA of the enterprises, making them more ready for the future.”
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Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world’s largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client-based solutions.
Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant’s next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.
Avasant’s engagement in the global market has inspired a strong commitment to community and purpose. Avasant Foundation supports technology and skill development programs to create employment opportunities for youth across Africa, Asia, the Caribbean and Latin America.
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