Artificial intelligence allows businesses to increase profit margins 80% relatively rapidly.

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Oracle's Global Research demonstrates how companies rely on artificial intelligence for competitive advantage, finance, and business

According to a new study from the Enterprise Strategy Group and Oracle, companies that use artificial intelligence (AI) and other advanced financial and business technology is 80 percent faster increasing their annual profits.

The global study Emerging Technologies, which analyzed 700 financial and business leaders across 13 countries in order to evaluate the competitiveness of financial and operations, found the emerging technologies–IoT (AI), IoT, blockchain, digital aids–have gone beyond their goal, exceed expectations and create a significant competitive advantage for organizations.

Juergen Lindner, Senior Vice President, SaaS Product Marketing, Oracle, said, "AI, IoT, blockchain and digital assistants allow companies to innovate faster, bring significantly greater competitive advantage and boost the competitiveness of companies that implement these technologies more aggressively than their competitors." 

"Research has found that these innovations have become commonplace and companies on the sidelines lose their importance for the industry. 

We continually integrate emerging technology directly into business processes in order to help our customers outdo the competition and ensure that they are able to use these technological developments.."

Artificial intelligence and automated helpers boost financial performance and productivity

Companies that use new financial technology have much greater advantages than anticipated: failures in financial organizations have on average been reduced by 37%.72% of companies that use AI better understand the overall business results.

In In the next five years, 83% of managers consider that AI is completely automating financial closing processes. Remote assistant productivity is rising by 36% and financial analysis is accelerating by 38%.

As blockchain technologies become popular, AI, IoT, blockchain and digital supports help businesses improve the accuracy, speed, and insight in their operations and the supply chain.

The average order fulfillment reduction for businesses with AI in their supply chains were 6.7 hours.

The application of IoT technology to supply chain processes helps companies to decrease enforcement errors by an average of 26 percent.

AI helps companies to reach a 25% reduction in distribution defects, 30% inventory and 26% in the production down period.

The productivity of workers increased by 28 percent and the rate of research increased by 26 percent in the supply chains of digital aid companies.

87% of companies using blockchain have met or exceeded ROI expectations; 82% predict that the next year will bring significant business value.

78% of managers think that checking the blockchain supply chain tracking would minimize fraud accidents in their supply chain by 50 percent or more in the next five years.

Increased business knowledge in supply chain processes is regarded as a key advantage for 68 percent of the respondents.

Emerging technology is now used by the large majority of companies and early adopters (who use three and more solutions) are more likely to gain and to outperform their rivals.

Emerging technologies have become commonplace, with 84% of companies making use of at least one such technology (AI, IoT, Blockchain, digital assistants).

The market is ahead of 82% of organizations with three or more emerging technologies, compared to only 45% of the organizations that do not.

Organizations of multiple new innovations are 9.5 times more likely to be financially and operationally market-leading.

Organizations are two to three times more likely than themselves to buy prebuilt new technologies (percentage depends on the product solution).

Nearly all interviewed parties (91%) saw SaaS applications as a key facilitator for new technologies.

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