AI Transitioning from Ideation to Industrialization for Critical Business Operations, According to New Rackspace Technology FAIR 2024 AI Research

Study Shows AI Investments Have Doubled in Past Year, Underscoring Accelerated Adoption

SAN ANTONIO, March 26, 2024 (GLOBE NEWSWIRE) -- New Foundry for AI by Rackspace (FAIR) 2024 AI Research Report sponsored by AWS and commissioned by Rackspace Technology (NASDAQ: RXT), a leading end-to-end hybrid, multicloud, and AI technology services company, finds that more than 60% of participants have advanced their Artificial Intelligence (AI) strategies beyond the ideation and proof-of-concept stages and are now transitioning to the initial phases of adoption. The research report results also revealed that nearly one-third of respondents have successfully integrated AI into their business operations, highlighting AI’s exceptionally rapid adoption and evolution.

When asked where they currently are in their AI journey, 29% of respondents reported that they have fully integrated AI strategy for use in employee productivity, with an additional 33% at the early stages of development. Companies are also seeing internal benefits, with 29% saying they have fully integrated AI and 31% at the early stages. The most fully developed use of AI is customer products and services, with 33% having fully integrated AI and an additional 34% in the initial stages of implementation. Nearly half of respondents reported being “operationally ready” for AI.

“Unlike previous technological disruptions that were years in the making, such as the mainframe, client servers, and cloud computing, there has been little to no, ‘wait and see’ period for AI. Instead, companies across the board have jumped in with both feet,” said Srini Koushik, President AI, Technology, and Sustainability, Rackspace Technology. “As AI becomes increasingly commoditized with easier consumption models, it is establishing itself as a ubiquitous tool that can fit almost anywhere, with a broad-brush impact across all aspects of the organization.”

In June 2023, Rackspace Technology launched FAIR, a global practice dedicated to helping organizations accelerate the responsible and sustainable adoption of AI across all industries. FAIR provides three distinct service offerings: Ideate, Incubate, and Industrialize which are designed to meet the needs of organizations as they execute their AI transformation. FAIR Ideate and FAIR Incubate are available on AWS Marketplace.