AI and Big Data Adoption Among SMEs Surges, 35% Growth in IT/ITeS Sector Leads the Way: TTBS Study
The adoption of AI and ML among SMEs
is steadily increasing, with significant strides being made in the IT/ITeS,
Healthcare and BFSI sectors according to the new ‘SME Digital
Insights’ study by Tata Tele
Business Services (TTBS) and CyberMedia Research (CMR). Despite
many SMEs being in the early stages of embracing these emerging technologies,
certain sectors are making notable progress.
IT/ITeS sector is at the forefront of
adopting AI/ ML with 35% of SMEs utilizing these technologies. These tools are
primarily being used to enhance user experiences, automate various processes,
and drive innovation. The sector's inherent familiarity with technology and its
rapid pace of innovation are key factors contributing to this advanced
adoption. AI/ML is particularly being used to optimize IT operations,
improve cybersecurity, and develop intelligent automation solutions.
Meanwhile, in the Banking, Financial
Services, and Insurance (BFSI) sector, which evidently has been an early
adopter of big data analytics, 37% of SMEs are harnessing these capabilities.
The primary drivers for this adoption include the need to gain deeper insights,
manage risks effectively, and deliver personalized services to customers.
Regulatory requirements and the availability of large datasets have further
propelled the adoption of big data analytics in the BFSI sector.
“With domain expertise and innovative
solutions, we are powering SMEs to harnessing the transformative power of cloud
solutions for sustained success in an increasingly digital world”, stated Vishal
Rally, Senior Vice President – Product and Marketing, at Tata Teleservices.
In the healthcare, diagnostic, and
pharmaceutical sectors, there is a significant recognition of the potential of
big data analytics and AI to transform operations and improve outcomes.
According to the report, 33% of SMEs in this sector are leveraging big data analytics,
while 31% are adopting AI. These technologies are being used to enhance
clinical outcomes, streamline operations, and accelerate drug discovery
processes. However, the adoption remains uneven, with many organizations facing
challenges such as data silos, outdated legacy systems, and skills gaps.
“Cloud adoption unlocks access to
cutting-edge advancements like AI, empowering SMEs to compete and thrive.
Partnering with trusted experts is key to maximizing the Cloud's potential,
from enhanced customer support to innovative solutions.” said Prabhu
Ram, Head- Industry Intelligence Group (IIG), Cyber Media Research (CMR)
The insights from the SME Digital
Insights report suggest a growing strategic focus among SMEs on leveraging data
and AI to gain a competitive edge. However, realizing the full potential of
these technologies will require sustained investment, a cultural shift, and
concerted efforts to build the necessary capabilities. Organizations will need
to address challenges such as integrating disparate data sources, updating
legacy systems, and closing the skills gap to fully benefit from AI and big
data analytics.
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