Many Singapore firms are adopting artificial intelligence (AI), but most are unsure about generating long-term returns. According to a recent report from Hitachi Vantara, 96% of companies in Singapore are using AI, but only 66% report success in its implementation.
The Disconnect in AI Adoption
Despite widespread AI adoption, many companies struggle to achieve sustained returns. Only 23% of firms say they are prepared to consistently generate ROI from AI, highlighting the gap between deployment and long-term value.
This gap illustrates the difficulties companies face when scaling AI and ensuring its lasting impact.
Workforce Readiness and AI Integration
A survey by EY reveals that companies miss out on up to 55% of potential productivity gains due to the disconnect between AI adoption and workforce readiness. Although most employees use AI tools, anxiety around AI in the workplace limits its full potential.
Data Complexity and Security Challenges
The Hitachi Vantara report also highlights concerns about data complexity and security risks. Over half of companies stated that the complexity of their data makes it difficult to detect security breaches. Additionally, 64% of companies feel their leadership does not fully understand the fragility of their data infrastructure.
“Singapore businesses are ahead in adoption, but managing complexity and security will be key in the next phase,” said Joe Ong, vice president at Hitachi Vantara.
Moving Toward Sustainable AI Implementation
For AI returns to be sustainable, companies must simplify data management and improve governance. Addressing challenges in complexity, security, and workforce readiness will help organizations realize the full benefits of AI.
