AI Opportunity Report 2018: Financial Services Industry Deep Dive
The Financial Services industry (not including real estate services), at $1.5 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is well paid ($70,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.
This document, AI Opportunity Report 2018: Financial Services Deep Dive focuses on AI penetration and expected investment by each Financial Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to AI that is already available. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Financial Services industry and the dollar-value of these efficiencies. The “2018 AI Preparedness Survey” identified specific task-related pain points where AI can bring immediate business value, and those are quantified in this report.
The data source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using today or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI.
Key findings include:
- More than 45% of U.S. Financial Services workers are engaging with some form of AI today.
- Document classification leads AI adoption; voice & scenario-planning show promise.
- The Securities, Commodities & Investments subsector is the most aggressive with AI deployment.
- AI vendors could bring nearly $64 billion in efficiency to the Financial Services industry this year (roughly 15% of payroll).
- Nearly 20% of Financial Services workers miss key business goals due to non-core tasks
- The very nature of the Financial Services value proposition creates different AI deployment strategies than in other industries.
Use this data for: Future of Work Planning, Talent Strategy, Industry Benchmarking, AI Vendor Forecasts
Total Pages: 18
AI Opportunity Report 2018: Manufacturing Industry Deep Dive
The Manufacturing industry, at $2.4 trillion in GDP, is a major piece of the United States’ $20 trillion economy. Its workforce earns slightly less than the median wage ($52,000 median annual salary versus $57,000 for the average U.S. worker), and it ranks second among all NAICS workforces for AI exposure.
This document, AI Opportunity Report 2018: Manufacturing Industry Deep Dive focuses on AI penetration and expected investment by Manufacturing subsectors – drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Subsectors include: Plastic & Rubber Manufacturing, Machinery & Electronics Manufacturing, Food & Beverage Manufacturing, Metal Manufacturing & Fabrication, Textile Manufacturing, Transportation (Aircraft, Auto, Boat) Manufacturing, Petroleum or Chemical Manufacturing, and Printing.
The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.
Key findings include:
- More than 46% of U.S. Manufacturing workers are engaging with some form of AI today.
- Robotics and document classification technology lead AI adoption.
- Plastics and Rubber manufacturers are the most aggressive with AI deployment.
- AI vendors could bring roughly $76 billion in efficiency to the Manufacturing industry this year (roughly 13% of payroll).
Use this data for: Future of Work Planning, Talent Strategy, Industry Benchmarking, AI Vendor Forecasts
Total Pages: 21
AI Opportunity Report 2018: Professional Services Industry Deep Dive
The Professional, Scientific and Technical Services industry, at $2.1 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is highly paid ($80,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.
This document, AI Opportunity Report 2018: Professional Services Deep Dive focuses on AI penetration and expected investment by Professional Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Subsectors explored include: Accounting Services, Advertising/Marketing or PR Services, Engineering Services, IT Consulting and Services, Legal Services, and Management or Technical Consulting Services.
The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.
Key findings include:
- More than 40% of U.S. Professional Services workers are engaging with some form of AI today.
- Document classification and document creation technologies lead AI adoption.
- The IT Consulting and Services subsector is the most aggressive with AI deployment.
- AI vendors could bring nearly $88 billion in efficiency to the Professional Services industry this year (roughly 12.6% of payroll).
Use this data for: Future of Work Planning, Talent Strategy, Industry Benchmarking, AI Vendor Forecasts
Total Pages: 18
AI Opportunity Report 2018: Which Industries Are Investing in AI? Which Ones Should Be?
Optimized Workforce surveyed more than 10,000 U.S. workers to understand the AI technologies they work with today and the technologies they will deploy in the coming year. This report presents an industry-by-industry breakdown of the technologies in place at the department level — by technology type — and presents detailed, task-level findings on how employees spend their time and how much of that time is likely to be automated through AI and similar technologies.
This document, AI Opportunity Report 2018: Which Industries Are Investing in AI? Which Ones Should Be? focuses on AI penetration and expected investment by industry, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to each industry and the dollar-value of these efficiencies.
Key findings include:
- Nearly one-third of U.S. workers are engaging with some form of AI today.
- Document classification and document creation technologies lead AI adoption.
- The Construction industry is most aggressive with AI deployment
- AI vendors could bring nearly $900 billion in efficiency to the U.S. economy this year (nearly 15% of payroll)
- Nearly 19% of workers are missing business goals due to tasks that AI could automate
Total Pages: 24