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Despite the billions of dollars being poured into AI startups and applications - it is common knowledge that most enterprise AI initiatives fail.

The COVID-19 pandemic has caused incredible disruption in healthcare systems across the world, as well as an immediate demand for innovative solutions to the growing number of coronavirus patients. Many AI vendors are already trying to find ways they can serve this demand through augmenting their machine learning-powered products - from diagnostics interfaces to radiology solutions and everything in between. 

Mitsubishi UFJ Financial (MUFG) is a Japanese holdings bank and financial services company ranked 5th on S&P Global’s list of the top 100 banks, and the largest Japanese bank on the list.

The coronavirus pandemic has ushered in a new era of digital payments; those who once mailed checks and made purchases in person are now paying their bills electronically and shopping online. As the economy is rattled by the coronavirus, there are some AI startups in the payments space that will succeed and others that will fail. All are pivoting rapidly to eCommerce, if that wasn't already their focus to begin with.

Large insurance companies have been experimenting with AI since the middle of the 2010s, piloting chatbots and collecting telematics data for future AI projects. The insurance industry more than many others relies on the collection of data to make critical business decisions.  Whether writing policies, or processing claims efficiently the way insurers employ data will determine the lifetime value of the customer.  

Fraud, money laundering, and other cyber crimes often increase in times of economic strife, and the pandemic is no different. In light of the coronavirus crisis, we believe that fraud detection applications are among the AI use-cases that are most likely to be adopted and deployed even when funds dry up for other kinds of more long-term, strategic innovation investments.

Barclays is a UK bank ranked 20th on S&P Global’s list of the top 100 banks. Like other top banks, Barclays has forayed into AI for a variety of use-cases. The bank seems to work with AI vendors more than it builds AI applications in-house, which aligns with the general trend of AI adoption in financial services: 68% of the AI products we researched as part of our AI Opportunity Landscape research in financial services were bought from vendors.

Supply chains contain every material, component, product and packaging for the objects that together compose the world we live in. However, there is an often invisible ingredient to successful supply chains: data. 

Consultants and professional services leaders face one of the hardest times in business in the last century.
Sales are drying up, companies are pulling back budgets, millions are jobless, and the business world scrambles to find some solid ground for a “new normal.”
For consultants whose livelihoods depend on closing deals, delivering value, and maintaining lucrative contracts, the economic conditions alone make things challenging.
But the economy is one of two great threats.
The second challenge for consultants doubles as an opportunity: Technology priorities are changing quickly.
At Emerj Artificial Intelligence Research, we’re fortunate to have a finger on the pulse of enterprise priorities in real time. Our research connections, our renowned AI podcast (closing in quickly on 3 million total downloads), and our enterprise client list allow us to gather intelligence fast. At no time has that been more important than during the coronavirus crisis.
Through polls of hundreds of enterprise leaders, in-depth interviews with directors of strategy and innovation at some of the world’s largest companies, and conversation with countless startup leaders, the new priority is clear:
Efficiencies.
It goes by many names: “Getting lean”, “streamlining operations”, and above all else - “automation.”
The era of Robotic Process Automation (RPA) and Artificial Intelligence (AI) will be ushered in by sheer necessity, and enterprises know it.
Consultants with experience in specific IT domains or traditional means of “digital transformation” will find clients with entirely new demands and questions, and the vast majority of consultants will lose out.
Our research has lead us to two requirements that the COVID-19 era consultant must have:

UBS is a Swiss multinational investment banking and financial services company ranked 30th on S&P Global’s list of the top 100 banks. In addition to investment banking and wealth management, the company is looking to improve its tech stack through several AI projects.