Apr 7, 2020   SOURCE: PR NewsWire

Avasant's RadarView(TM) Heralds the Rapid Proliferation of AI-Led Business Transformation

LOS ANGELES, April 7, 2020 /PRNewswire-PRWeb/ -- Avasant, today unveiled its RadarView(TM) market assessment covering the Applied AI & Advanced Analytics services space. The RadarView(TM) report recognizes the top 22 providers for AI & Advanced Analytics services. These 22 providers have shown mature capabilities and consistent growth in their service offerings and have been assessed across three key dimensions - practice maturity, investments & innovation, and ecosystem development. The report categorizes the top Leaders, Innovators, Disruptors, and Challengers as follows: 

    --  Leaders: Accenture, Cognizant, HCL, IBM, Infosys, TCS, Wipro
    --  Innovators: Atos, Capgemini, DXC, LTI, NTT Data, Tech Mahindra, Zensar
    --  Disruptors: Genpact, Mindtree, NIIT Technologies, Persistent
    --  Challengers: Mphasis, Sutherland, UST Global, WNS

Download the 79-page report here.

Anupam Govil, a partner with Avasant, congratulated the winners noting, "With the rapid evolution of cognitive technologies and compatible AI & Advanced Analytics solutions, enterprises are beginning to see real business value. AI solutions have become enterprise-grade, and are being implemented to drive actionable insights, recommendation engines, autonomic actions, fraud prevention, personalization and a whole host of other functions. In 2019, enterprises graduated from pilots to production-stage AI implementations. Now they are gearing-up to expand the scope of AI deployments beyond function-specific to enterprise-wide use cases. Data modernization initiatives, tech-convergence, and maturity of RPA have created the foundation for enterprises to undertake larger scale AI endeavors. We expect AI to become a core business transformation lever resulting in rapid proliferation in 2020."

The Applied AI & Advanced Analytics RadarView(TM) 2020 report addresses the need for enterprises to identify the potential, use cases, success stories, and right action points to accelerate their AI & Advanced Analytics endeavors. It also brings out detailed capability and experience analyses of key service providers to assist enterprises in identifying the right partner for their AI journey.

Some of the key findings from the report include:

    --  Enterprise proliferation of AI and Advanced Analytics is growing at over
        30% on account of increase in first-gen adopters and successful PoCs.
    --  Enterprises could realize 10-15% top-line and 50-80% operational metrics
        improvement.
    --  Nearly 46% of current AI deployments have entered the production-stage.
    --  Use cases in Recommendations & Predictions are rising the fastest.
    --  BFSI, retail, telecom, healthcare, and manufacturing are at the
        forefront of AI adoption.
    --  74% of enterprises that are modernizing data, have initiated leverage of
        AI.
    --  Progressive enterprises are undertaking deployment of multiple other
        digital levers with AI to unlock true business value.
    --  Service providers have continued developing industry-specific AI
        solutions, fostering partnerships with specialized tech-vendors, and
        been able to deliver value to enterprises.

Avasant's Research Leader, Saurabh Verma, added, "As enterprises advance on their AI journeys, they struggle with legacy and diverse tech-integration, data management, and organizational change management. The impact of these challenges gets accentuated due to a lack of adequate AI implementation experience. Service providers, owing to their deepening expertise and continued investments have proven instrumental in success of AI implementations and have catalyzed enterprise AI endeavors. This corroborates the need to leverage service providers as strategic partners as enterprises embark on their AI journeys." He further added, "The role of service providers becomes ever more indispensable in scenarios where the enterprises' transformation blueprints include other technologies such as IoT, Blockchain, cloud along with AI."

About Avasant:
Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world's largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client-based solutions.

Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant's next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.

Avasant's engagement in the global market has inspired a strong commitment to community and purpose. Avasant Foundation supports technology and skill development programs to create employment opportunities for youth across Africa, Asia, the Caribbean and Latin America.

For more information, visit https://www.avasant.com/.

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SOURCE Avasant