A survey of more than 5,000 C-suite executives to be released this fall by IBM’s Institute for Business Value (IBV) finds that executives from the highest-performing companies place significantly greater priority on cognitive capabilities than peers in market-following enterprises. Industry-specific IBV research shows that:
- Insurance: Sixty-five percent of industry CXOs are pursuing some form of business model innovation, but nearly 30 percent feel the quality, accuracy and completeness of the data in their organization is insufficient. Nearly all said they intend to invest in cognitive capabilities.
- Retail: Sixty percent of retail executives do not believe their company is equipped to deliver the level of individual experiences consumers demand, and 95 percent say they will invest in cognitive in the next five years.
- Healthcare: The industry forecasts a 13 million person gap in qualified healthcare workers by 2035, and more than half of healthcare industry CXOs report that current constraints on the ability to use all available information limits their confidence about making strategic business decisions. Eighty-four percent of these leaders believe cognitive will be a disruptive force in healthcare and 95 percent plan to invest in it over the next five years.