ServiceNow has released a global survey of CIOs on machine learning and its impact on business decision making.
The survey covered 500 Chief Information Officers (CIOs) in 11 countries across 25 industries.
52 percent of respondents say they are advancing beyond the automation of routine tasks, such as security alerts, toward the automation of complex decisions, such as how to respond to alerts.
87 percent said that they would get value from the accuracy of decisions. In fact, 69 percent say decisions made by machine learning will be more accurate than those made by humans.
57 percent said that routine decision making takes up a meaningful amount of employee and executive time, so the potential value of automation is high. CIOs expect this decision automation to contribute to their organization’s top line growth (69 percent).
ServiceNow recommendations to CIOs
# Build the foundation and improve data quality
# Prioritize based on value realization
# Build an exceptional customer experience
# Attract new skills and double down on culture
# Measure and report
“We see three kinds of processes as targets for machine learning—anything requiring rating, ranking or forecasting,” said Chris Bedi, CIO at ServiceNow.
IDC estimates that investment in machine learning will nearly double by 2020.
72 percent of CIOs surveyed said they are leading their company’s digitalization efforts, and 52 percent agree that machine learning plays a critical role.
49 percent of the CIOs surveyed say their companies are using machine learning and 40 percent are planning to adopt the technology.
27 percent of CIOs have hired employees with new skill sets to work with intelligent machines.
40 percent of CIOs have redefined job descriptions to focus on work with intelligent machines, 41 percent cite a lack of skills to manage intelligent machines and 47 percent say they lack budget for new skills development.
CIOs cite data quality (51 percent) and outdated processes (48 percent) as substantial barriers to adoption.
45 percent CIOs have developed methods for monitoring mistakes made by machines.
A select group of CIOs surveyed (fewer than 10 percent) are running ahead of their peers in the use of machine learning. These “first movers” provide a model for how CIOs can better utilize machine learning:
Almost 90 percent of first movers expect decision automation to support top-line growth vs. 67 percent of others.
Roughly 80 percent have developed methods to monitor machine-made mistakes vs. 41 percent of others.
More than three-quarters have redesigned job descriptions to focus on work with machines compared with 35 percent of others.
More than 70 percent have developed a roadmap for future business process changes compared with just 33 percent of others.
ServiceNow applies machine learning to four of the biggest use cases that IT has today. Preventing outages, categorizing and routing work, predicting future performance, and benchmarking performance against peers are examples of everyday work ServiceNow automates in leading enterprises.