44% of Businesses Adopted Blockchain, New Study Shows

Tata Communications, one of the major global providers of telecommunications solutions and services, recently released a new study, called “The Cycle of Progress.” The results of Tata Communication’s survey reveal that Europeans and North Americans are generally “more optimistic” about using blockchain, artificial intelligence (AI) and predictive analytics technologies.

According to the study, the companies and businesses that participated in the survey have seen positive outcomes and impacts with these technologies: 48 percent for the Internet of Things (IoT), 43 percent for predictive analytics, and 43 percent for AI.

The survey suggests business leaders from the West and East view AI technologies differently. Those in the East appear to have a generally more optimistic view on AI than those from the Western parts of the world. According to the study, decision makers in Germany and the U.K. see AI as having little or negative impact (29% in both countries), while decision makers in India see it as having a significant or slightly positive impact (95%).

Along with addressing cost, security and privacy concerns, the study also revealed some of the challenges companies face with these new technologies, such as adopting and learning Internet of Things (IoT), artificial intelligence (AI) and blockchain.

According to Tata Communications’ Chief Digital Officer Srinivasan CR, the study has demonstrated the focus of business leaders on the positive impact of technology innovation, rating, IoT, predictive analytics, and blockchain as bigger drivers of digital transformation than the emerging uses of AI.

Additionally, the survey revealed that 44 percent of the business respondents already have or are in the process of adopting blockchain, while 46 percent of them use AI, 51 percent have or will use predictive analytics, and 53 percent have or will use IoT.