What has changed for Luxembourg companies in the past two years?
PwC Luxembourg has just released the results of its survey: “Use of Data Analytics and Artificial Intelligence 2021 - What has changed for Luxembourg companies in the past two years?”. The survey was conducted on-line by PwC Luxembourg through a self-administered questionnaire. Based on a set of questions originally developed by PwC France and Usine Digitale, it queried a sample of respondents including Heads of IT, Operations, Risks, Data or Digital among others.
In 2021, Artificial Intelligence (AI) is no longer a new phenomenon knocking on doors with opportunities. AI is already integrated very well into our daily lives, especially in the way we do our business. Over the last few years, companies in most industries have recognised the importance and urgency to get onboard with the AI revolution and have invested time and money as well as the best of their talent into AI related projects.
PwC Luxembourg conducted a study to better understand where Luxembourg companies stand in terms of Data Analytics and Artificial Intelligence and to track the progress of the Luxembourg ecosystem. This study is a sequel to the first study, “Use of Data Analytics and Artificial Intelligence by Luxembourg companies” edition, conducted in 2019.
Findings from the survey show that the acceptance of Artificial Intelligence in Luxembourg companies now stands at 52% of companies using AI tools and services, up from 24% in 2019 with another 20% planning on piloting it soon. Luxembourg companies are incorporating advanced analytics tools and data expertise into their day-to-day business, to increase knowledge on customers, foster innovation, and optimise their processes. Luxembourg is well positioned on a global level, when it comes to the adoption of AI tools and is moving from spreadsheets to tailored data solutions.
Increased specialisation in the data domain is also becoming apparent, with growing roles in data architecture, data management, and data governance. The biggest hurdle in the deployment of AI remains the lack of talent, as experienced by 58% of the respondent companies in the survey (up from 37% in 2019). Putting AI into operation and embracing the right strategy is an area of concern. Only 35% of companies have a mature data & AI strategy, a small increase when compared to 29% in 2019.
Thierry Kremser, Data & AI Leader, PwC Luxembourg says: “The COVID-19 pandemic has been a disruptive force in Luxembourg and the world for the past 18 months. In our second edition of this survey, we asked Luxembourg’s data leaders on their own experience and developments since 2019. In this report you will see that Luxembourg’s companies have responded to the challenge with an increased and more impactful use of Data Analytics and Artificial Intelligence in their business. ”
Andreas Braun, AI & AI Lab Leader, PwC Luxembourg says: “AI is a key driver of innovation in Luxembourg, across all sectors. Companies are competing for talents, with significant investments focussing on data specialists, enabling a more widespread operational use of AI. Our study participants see a continued need to embed data & AI into their organisational strategies.”
Click here to obtain the full report