80% of Companies Still Unsure How to Best Leverage AI, Study Finds

The future may lie in artificial intelligence (AI), but nearly 80% of companies lack the knowledge or capacity to successfully implement it into their work processes. That's the major takeaway from Aras' newly published “Spotlight on the Future 2024” report.

This software company surveyed 835 executives across the United States, Europe, and Japan and found that 84% expected AI to deliver new or enhanced services, and 82% anticipated improved quality standards.

Roque Martin, CEO of Aras, points out that modernizing IT infrastructures can help overcome these challenges, with the study citing capacity constraints (79%), knowledge deficits (77%), and isolated IT applications (75%) as the main barriers. More importantly, the research suggests that AI can significantly improve PLM effectiveness, with 75% of respondents recognizing its impact on product lifecycle management (PLM) strategies. 

Companies cite insufficient data as the main barrier to effectively using AI to achieve their business goals. This has led to an improvement in the quality of production, services, and research and development data.

“Companies that are already using a flexible and modern PLM are much better prepared for the challenges of new, data-intensive technologies, leveraging AI to their benefit,” Martin added.

The study, conducted in December 2023, surveyed executives from industries with a minimum turnover of $43 million, including automotive, aerospace, mechanical engineering, and more. 

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