Corinium and FICO's report reveals an increased demand for AI during COVID-19

Some key findings include:

Organisations rally to add AI capacity – 63% of respondents have started scaling AI capacity within their organization. However, enterprise chief data, and chief analytics officers are facing a wide range of challenges as they increasingly look to grow AI:

• 93% say ethical considerations represent a barrier to AI adoption;
• Building a team with the right skill set (66%);
• Integrating new technology with legacy systems (62%);
• Regulatory and compliance risks (60%).

Ethical and responsible AI – Half of survey respondents said they have strong model governance and management rules in place to support ethical AI usage, making this the most common approach to tackling the challenge. However, 67% of AI leaders don’t monitor their models to ensure their continued accuracy and ethical treatment.

AI enables post-COVID competitive advantage – From better customer experiences and reducing financial crime to automating business processes and improving risk management, respondents believe AI will help their organisations secure a competitive advantage.