cnvrg.io, an Intel company, provider of the artificial intelligence (AI) and machine learning (ML) platform, today announced the results of its annual 2022 ML Insider Survey, which shows that despite the current economic climate, companies increase their investment in AI.
In addition, the survey found that the vast majority of companies see the benefits of AI, but overall adoption is still low due to a shortage of AI talent and the technical complexity of AI development.
The ML Insider Survey is an annual analysis by cnvrg.io, an Intel company, of the machine learning industry that highlights key trends, points of interest, and challenges AI developers face every day. The report’s findings provide insights into how over 430 AI professionals are building, training, deploying, and customizing their machine learning stack to better fit today’s modern, complex ML workflow.
Almost 50% of respondents said they believe corporate investment in AI development will actually increase despite the current economic climate. Organizations are increasingly trusting the value of AI, with 89% of organizations benefiting from their AI solutions. However, the AI maturity is still low. Over 57% of respondents use fewer than 5 machine learning models in their product and 14% have not implemented any AI in their company at all.
The top challenges for running AI are the same as identified in the 2021 ML Insider survey, hiring data science talent and the lack of AI expertise. The single most important factor holding back AI adoption was the technical complexity of development.
However, the 2022 survey shows that AI has evolved and become more accessible. Data scientists aren’t the only ones who have AI in their job description. The role of the AI developer has evolved. 75% of respondents said AI is being developed by data scientists, engineers, and software developers in their organization. In 2023, this trend can help ease hiring challenges and accelerate AI maturity.
“Confidence in the potential of AI is at an all-time high as most companies recognize the benefits of their AI solutions and plan to increase investment in AI despite economic conditions,” said Yochay Ettun, CEO and co-founder of cnvrg. ok “Enabling engineers, software developers, and data scientists to build AI can reduce hiring challenges and accelerate AI maturity.