Vultr recently released a report titled, "The New Battleground: Unlocking the Power of AI Maturity with Multi-Model AI." Conducted by S&P Global Market Intelligence, it demonstrates a strong correlation between an organization’s AI maturity and its ability to achieve superior business outcomes.
The findings reveal that companies with advanced AI capabilities are significantly outpacing their peers in revenue growth, market share, customer satisfaction, and operational efficiency.
The research surveyed U.S.-based enterprise IT and digital transformation decision-makers across various industries, including healthcare, government, retail, manufacturing, and financial services. Seventy-two percent of respondents are at higher levels of AI maturity. The report emphasizes that the number of AI models actively used within an organization serves as a reliable measure of AI maturity. Advanced AI adopters typically utilize a multitude of models simultaneously, adopting a multi-model approach.
Currently, organizations have an average of 158 distinct AI models in operation, with expectations to increase this number to 176 within the next year. This rapid growth reflects the accelerating pace of AI adoption across industries, with 89 percent of organizations anticipating advanced AI utilization within two years. The report also predicts that AI will permeate throughout enterprises, achieving 80 percent adoption across all business functions within 24 months, embedding AI in all applications and business units.
“AI's transformative impact is undeniable—it's devouring industries and is becoming ubiquitous in every facet of business operations. This necessitates a new era of technology, underpinned by a composable stack and platform engineering to effectively scale these innovations,” said Kevin Cochrane, CMO of Vultr’s parent company, Constant.
Organizations with transformational AI practices are also outperforming their peers at operational levels. The report indicates that 50 percent of companies with advanced AI are performing "significantly better" than their industry counterparts. Also, a large majority of AI-driven organizations saw improvements in key performance metrics in 2022/2023, including customer satisfaction (90 percent), revenue (91 percent), cost reduction/margin expansion (88 percent), risk management (87 percent), marketing (89 percent), and market share (89 percent).
In addition, nearly half of the organizations reported a "major" impact of AI on market share, revenue, customer satisfaction, marketing improvements, and cost and risk reduction.
To fully harness AI's potential, 88 percent of the surveyed enterprises said they plan to increase their AI spending by 2025, with 49 percent expecting moderate to significant increases.
Despite the rapid advancement however, organizations still face several obstacles in achieving higher AI maturity. Budget limitations, challenges in building or obtaining AI algorithms, a lack of skilled personnel, and data quality issues are among the top hurdles.
“For years the hyperscalers have dominated the infrastructure market, relying on scale, resources, and technological expertise, but that is all about to change,” said Cochrane. “Over the next decade, everything will be rebuilt with AI at the core, with organizations integrating the principles of cloud engineering into their operations. As a result, we will see the rise of AI specialists and independents as they empower organizations to do transformative work and gain a competitive edge.”
Edited by
Greg Tavarez
