Tata Consultancy Services, a leading global IT services organization has said that it has unveiled the industry findings of its Global Trend Study titled, "Getting Smarter by the Sector: How 13 Industries Use Artificial Intelligence."
Focusing on the current and future impact of Artificial Intelligence (AI), the study polled 835 executives across 13 global industry sectors in four regions of the world, revealing that they all identified artificial intelligence as increasingly important to their strategic competitiveness by 2020.
According to the study, 80 per cent of executives in all 13 industries currently invest in AI and almost 100 per cent plan to invest by 2020. The insurance industry outspent the other twelve verticals surveyed, investing on average USD 124 million in AI systems, compared to a cross-industry average of USD 70 million. Consumer packaged goods reported the second most significant spend at USD 95 million.
Meanwhile, shares of the company were trading at Rs 2514.55 apiece, up 1.12 per cent from the previous close at 09:55 hours on BSE.