Computer scientist John McCarthy coined the term “artificial intelligence” in 1955, proposing that, “every aspect of learning … can in principle be so precisely described that a machine can be made to simulate it." Today, so much of what we take for granted in our daily lives stems from machine learning. Every time you use a wayfinding app to get from point A to point B, use dictation to convert speech to text, or unlock your phone using face ID ... you're relying on AI. And companies across industries are also relying on—and investing in—AI to drive logistics, improve customer service, increase efficiency, empower employees and so much more.
This journey to AI maturity has been in high gear for years. Pre-pandemic (2019), AI Achievers already enjoyed 50% greater revenue growth on average, compared with their peers. And in 2021, among executives of the world’s 2,000 largest companies (by market capitalisation),
those who discussed AI on their earnings calls were 40% more likely to see their firms’ share prices increase—up from 23% in 2018, according to analysis by Accenture.
