94% of Digital Product and Service Development Will Be AI-based by 2028

Emergn’s data shows that 75% of industry leaders in the UK and US view AI as a crucial technology in reshaping their sector and product development cycle over the next three years.

Yet despite the enthusiasm, Emergn’s survey also makes clear that a tremendous amount of work is still required to ensure pervasive AI adoption delivers the desired results in terms of productivity, efficiency, and accessibility. Specifically, 71% advocated for the need to resolve ongoing challenges around data privacy (the ability to control data information); 70% focused on the need to ensure AI can deliver accuracy (information or results that are correct, credible, and reliable); and 60% focused on issues with AI solutions’ dubious scalability (the ability to expand or accelerate whilst maintaining product quality or service efficiency).

With AI set to disrupt product and service development across most industry sectors, the societal cost of failure could be huge. For example, AI built on skewed data sets is already entrenching bias. Failure to secure sensitive patient data could limit rather than endanger access to healthcare. Automation in public services could reinforce rather than rebalance wealth inequality.

The proper framework for successful AI implementation

A lack of experience with AI is putting successful implementation at risk. To harness the full potential promised by AI, organizations will need access to experts who can help them close the gap between executive expectations and implementation realities and who also offer expert thinking and knowledge of best practices. Emergn does this in three ways: 

First, by helping clients understand the opportunities AI brings in realizing business value, from improving efficiency to enhancing customer experiences to creating new business models.

Second, by developing the leadership, product management, and agility competencies, their people and teams needed to maximize the return on investments in AI. 

She was third, providing experienced product development teams who can build and deliver the AI and related technology solutions clients demand.