Ernst & Young: The Biggest Challenge of Digital Transformation is the Lack of AI Technical Talents

Ernst & Young released the “Artificial Intelligence Maturity Survey in Greater China” today. The survey found that 72% of the companies surveyed in Greater China believe that AI (artificial intelligence) will have a “larger” or even “significant” impact on the industry within five years; However, the interviewed companies also believe that the biggest challenge of digital transformation is the lack of artificial intelligence technology talents.

According to Ernst & Young, based on data from this survey, 72% of the companies surveyed in Greater China believe that AI will have a “larger” or even a “significant” impact on the industry within five years; while 80% of the Taiwanese companies surveyed expect AI to have a “significant” or even “significant” impact on the industry within five years. The year will have a “larger” or even a “significant” impact, showing that the senior executives of Taiwanese companies interviewed generally hold a more positive attitude when assessing the impact of future artificial intelligence.

Among the key factors for the digital transformation of talent training, the surveyed companies in Greater China believe that the top three challenges they face are the lack of artificial intelligence technology talents, the ability to manage data in a consistent manner between the front, middle and back offices, the integration with the old system, and the shortage of talents. The predicament has enabled companies to cooperate and win-win, actively build a diversified industrial ecosystem, and explore applicable artificial intelligence application scenarios.

The most concerned artificial intelligence business risks in Greater China are regulatory requirements (56%), system maintenance (44%), and personal influence (36%); while the most concerned risk of Taiwanese companies is personal influence (45%) , Which shows that Taiwanese companies pay attention to human touch, and management needs to balance employees’ worries about losing their jobs, followed by regulatory requirements and system maintenance (both 40%).

According to statistics, there have been 3678 AI investment events in Greater China in the past ten years, with a total transaction value of 1348.3 billion yuan. In the past ten years, the number and amount of AI investment have continued to rise, but it has fallen slightly in 2019, showing that investors tend to have artificial intelligence. Reasonable, the investment market is relatively stable. During the same period, there were 72 AI investments in Taiwan, of which 32 publicly disclosed transactions had a cumulative investment of 10 billion yuan. The overall number of AI investments showed an upward trend. Among Taiwan’s AI investments, IT and media industry AI companies won The industry with the largest number and amount of investment.

Zhang Tenglong, General Manager of Ernst & Young Consulting Services Co., Ltd., said, “The new crown virus epidemic continues to spread globally, and the uncertainty created has caused an industrial revolution. In the post-epidemic era, companies need to actively think about how to use digital tools for digital transformation. To enhance competitiveness in the market, AI artificial intelligence applications are one of the most important technological applications.”

According to Ernst & Young, the respondents of this survey included 105 companies from across the Taiwan Straits, 63 Chinese companies, 22 from Hong Kong and Macau, and 20 from Taiwan. Most of the respondents from Taiwan held senior executive positions in their companies. The survey covers 7 industries including professional services, manufacturing and energy, information technology and media, financial services, healthcare, retail, infrastructure and transportation.