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OpenText and Foundry's Findings on AI Success

A recent study conducted by OpenText, a global leader in secure information management for AI, along with Foundry, has brought to light crucial insights regarding the successful implementation of artificial intelligence (AI) in organizations. This research, named "AI Is Redefining the Role of the Knowledge Worker," involved 515 Chief Information Officers (CIOs) and senior IT leaders across various sectors and aimed to uncover the reasons behind diverging levels of return on AI investment (ROAI).

Key Insights from the Study

The study found a significant gap in satisfaction levels between companies that have recently adopted AI and those with mature implementations. Approximately 70% of established AI firms reported a high level of satisfaction regarding their ROAI, a stark contrast to the mere 42% satisfaction rate observed in newcomer organizations. This discrepancy has been attributed to the maturity of their information management programs, which need to be sufficiently developed to yield meaningful results in AI initiatives.

CIOs from the financial and healthcare sectors highlighted the challenges they face as they aim to expand AI utilization while grappling with security concerns. For example, a CIO from the financial services sector stated, "Our company wants to leverage AI further, but the security and IT teams are in a state of panic because no one knows how to operate it safely and manage it correctly." Similarly, a vice president from the healthcare industry pointed out that "the success of AI depends on improving metadata management, enhancing governance, and categorization."

The Impact of Maturity on ROAI

The study emphasizes that the benefits of AI seem to amplify with experience. Organizations that delved deeper into AI implementation tended to invest more and measure success in meaningful ways, correlating with higher returns. Mature AI firms interpreted their ROAI through the lens of problem-solving impact and risk reduction, while newer players primarily focused on efficiency improvements.

On average, companies allocate approximately $5.4 million annually on AI-related tools, infrastructure, and personnel, signaling an investment expansion aimed at enhancing satisfaction with results.

Moreover, multi-agent AI is viewed as a "game changer" among mature adopters, being deemed essential for addressing complex problems effectively.

Savinay Berry, Chief Product Officer and CTO of OpenText, remarked, "The value of AI does not manifest overnight. True results emerge when companies go beyond superficial automation to tackle real challenges. This requires safe, well-managed information. Without this foundation, achieving ROAI is nearly impossible. We provide organizations with this essential groundwork by simplifying information complexity, strengthening governance, and ensuring accessible AI-ready information."

The Necessity of Information Management Readiness

Despite varying maturity levels, nearly all organizations concur on the necessity of being prepared in information management to leverage the true value of AI. Security and compliance risks remain the top challenge in information management, cited by 44% of respondents.

Additionally, less than half of the organizations rated their governance as functioning "very well," highlighting a significant barrier to expanding AI capabilities. When selecting partners, both new and established companies placed a high priority on in-depth expertise in secure information management, with 50% and 49%, respectively, highlighting its critical importance.

Conclusion

The findings from the OpenText and Foundry study articulate a clear message: the success of AI hinges significantly on the maturity of information management practices. As businesses navigate the complexities of AI implementation, fostering robust information governance will play a crucial role in balancing the potential rewards and associated risks. For a more comprehensive look into the report regarding ROAI and its implications, readers are encouraged to explore the full text available on OpenText's blog.

For more information about OpenText and its offerings in information management solutions, visit their official website at OpenText.

About OpenText: OpenText is a leading global provider of information management software and services, delivering a comprehensive suite of business cloud, AI, and technology solutions that empower enterprises to tackle increasingly complex global challenges.