Element AI publishes new AI Maturity Framework to guide enterprises in assessing their AI readiness
Montréal, QC (May 13, 2020) – Element AI, a global developer of AI-powered solutions and services, is pleased to announce it has published the AI Maturity Framework, which consists of a mapping tool and a whitepaper. The whitepaper provides in-depth insights on how organizations across all industries can become AI-ready faster and the tool helps organizations quickly map their AI-readiness. The tool and whitepaper address a knowledge gap in the AI industry, as few resources exist on how organizations can actually evolve their AI-readiness from theory to practice.
Since 2019, Element AI’s Artificial Intelligence Maturity Survey has collected data vital to informing the AI Maturity Framework whitepaper and tool. To date, the survey has collected insights from 200 senior decision-makers across multiple industries—primarily in North America—and determined that organizations are still struggling with their AI journeys. Key findings in the survey reveal:
- Fewer than one in ten organizations are mature enough to operationalize and scale AI production
- 79 percent of organizations surveyed haven’t graduated from experimenting with AI in a lab setting
- Only 14 percent of organizations surveyed are formalizing their approach to deploying AI within their organization
“The progress and full integration of AI into most industries is uneven because implementing AI is as much about organizational factors as it is technical ones—and few resources exist to help leaders plan and strengthen their foundations for industry-grade AI,” said Karthik Ramakrishnan, Vice President, Head of AI Strategy and Enablement at Element AI. “We want the AI Maturity Framework tool and whitepaper to provide organizations around the world with a systematic perspective to help them chart and realize their AI journey.”
While there are plenty of resources written with calls to invest in AI and the benefits of the technology, few exist on how organizations can take AI technology and develop a plan that is actionable and fits within an organization’s culture. The AI Maturity Framework whitepaper provides insights into how the AI journey is unfolding in multiple industries, drawing from firsthand experience of the Element AI advisory and enablement practice. The whitepaper provides a deeper dive in understanding the nuances of the different stages and dimensions of AI-readiness, and provides industry benchmarks, case studies and practical tips/tactics on how to move to the next stage of AI integration.
“This tool and whitepaper offers prescriptive advice on how companies can align the five dimensions of organizational AI maturity: strategy, data, technology, people and governance. All organizations can benefit—no matter where they are on their AI journey and regardless of whether they’re buying AI solutions off the shelf, building them from scratch, or something in between,” continued Ramakrishnan.
Element AI’s AI Maturity Framework tool and whitepaper is available for free: visit www.elementai.com/products/ai-maturity.
For more information Element AI and its AI-powered products, visit www.elementai.com.
About Element AI
Element AI develops AI-powered solutions and services that help people and machines work smarter, together. Founded in 2016 by serial entrepreneurs including JF Gagné and A.M.Turing Award recipient, Yoshua Bengio, PhD, Element AI turns cutting-edge fundamental research into software solutions that exponentially learn and improve. Its end-to-end offering includes advisory services, AI enablement tools and products, aimed at helping large organizations operationalize AI for real business impact. Element AI maintains a strong connection to academia through research collaborations and takes a leadership position in policymaking around the impact of AI technology on society. For more information, visit www.elementai.com.
- Learn more about Element AI in the InsurTech Spotlight.
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SOURCE: Element AITags: Artificial Intelligence (AI), Element AI, InsurTech Spotlight, survey, whitepaper