Consumers are Ready for AI, but Will Brands Keep Up?
We know that AI is no longer a distant vision. Not only has it arrived, but it has become an integral part of our everyday life. As we continue to engage with AI tools, consumer brands are under pressure to adapt quickly and stay relevant in an increasingly competitive digital world.
Consumers are Ready for AI, but Will Brands Keep Up?
A global study by the IBM Institute for Business Value shows that retail and consumer product executives are well aware of the importance of AI. The survey respondents expect spending outside of traditional IT operations to surge by 52% in the next year.
The Report: "Embedding AI in Your Brand’s DNA"
The report, based on a survey of 1,500 global retail and consumer product executives, explores how brands are making AI a key part of everything they do, including innovation, customer connections, and business strategy.
Key Findings
- 81% of surveyed executives and 96% of their teams are already using AI.
- 31% of workers will need to reskill or acquire new skills to work with AI in the next year, with that number rising to 45% within three years.
- 55% of improvements in customer service involve human-AI collaboration, with only 30% being fully automated.
AI Skills Gap
The AI skills gap has remained a key challenge to AI adoption, with many organizations struggling to find the necessary expertise for development and implementation. The IBM report echoes this challenge, revealing that executives expect 31% of their workforce will need to reskill or acquire new skills to work with AI in the next year, with that number rising to 45% within three years.
Human-AI Collaboration
The respondent shared that 55% of improvements in customer service involve human-AI collaboration, with only 30% being fully automated. This underscores that the human element remains crucial, as employees continue to play a central role in working alongside AI to deliver better business outcomes.
Conclusion
The findings highlight that many key aspects of brand development require human intuition, such as creativity, emotional intelligence, and specialized expertise. These intrinsically human traits can be further enhanced by AI. According to IBM, workers who possess the skills to work with AI will have a significant advantage over those who do not.
FAQs
Q: What is the expected growth in spending on AI outside of traditional IT operations?
A: 52% in the next year.
Q: What percentage of workers will need to reskill or acquire new skills to work with AI in the next year?
A: 31%
Q: What percentage of improvements in customer service involve human-AI collaboration?
A: 55%
Q: What is the expected rise in the number of workers needing to reskill or acquire new skills to work with AI within three years?
A: 45%
