Most Executives Lack Confidence in AI Strategy and Data Readiness

A recent survey conducted by Teradata and NewtonX reveals that while C-suite executives trust the potential of AI, many lack confidence in their company’s AI strategy and data readiness. The survey included expert interviews and a quantitative study of executives responsible for AI in their organizations.

Key findings include:

• 61% of executives trust the reliability of their AI outputs, but 40% doubt their company’s data readiness.
• 89% believe AI is essential to stay competitive, yet only 56% have a clear AI strategy.
• 28% of executives see their AI strategy as closely aligned with business objectives.
• Successful AI implementations are mostly departmental, with only 12% deploying AI company-wide.

Jacqueline Woods, Chief Marketing Officer at Teradata, emphasized the importance of clean, reliable data, calling it the backbone of AI outputs. “Achieving complete trust remains elusive for many executives, but our survey shows a deepening understanding of how to reach trusted AI at enterprise-scale,” she said.

Executives identify productivity and customer experience as significant benefits of AI. However, they prefer internal process enhancements over customer-facing applications to minimize risks and control costs. Barriers to scaling AI projects include a scarcity of technical talent, budget constraints, and insufficient technology infrastructure.

Trust in AI is crucial, with executives highlighting the need for transparency and reliable data to avoid biases. The survey suggests that clear strategic vision, leadership support, and sufficient investment in AI technology are vital for success. Most executives expect to see results from AI projects within a year of deployment, with many already witnessing a demonstrable ROI.

This survey underscores the need for companies to align their AI strategies with broader business goals and ensure data readiness to fully leverage AI's potential.

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