BML Munjal University Hosts Leadership Summit 2024; Reveals 88% Companies See AI as Advantageous
BML Munjal University Leadership Summit 2024 reveals key survey insight on Industry 5.0 and AI. Reportedly, 44% of the companies highlight an increase of 44% increase in productivity from AI integration.
BML Munjal University hosted the Leadership Summit 2024 at the premises. The summit included a comprehensive survey report on Industry 5.0 and Artificial Intelligence (AI). As per the report, 88.2% of organisations consider AI as an important tool to enhance their competitive advantage. The survey was based on conversations with 1,000 professionals and interviews with 50 industry experts. Further, 21% of the participants reported that AI is very important during innovation, enabling the development of new products, services and business models, particularly in sectors like finance, healthcare, manufacturing and marketing.
Moreover, Approximately 33% of associations focus on product development, on the other hand, 29% leverage AI for customer service via chatbots and robotic process automation (RPA). 13% apply AI to improve supply chain management while Marketing teams, represent 19% of businesses.
Prof. Richa Mishra & Prof. Jolly Masih explained saying: "The survey findings reveal AI's significant potential to enhance competitive advantage and reshape entire industries in the coming years. By embracing ethical practices and prioritizing collaboration between humans and machines, we can unlock AI's full potential and drive innovation across various sectors."
Key Challenges
Artificial Intelligence (AI) offers several benefits. However, there are some key challenges that need to be considered.
- 34% of organisations face a critical shortage of AI-trained personnel.
- 20% of respondents mentioned algorithmic bias and worry about data privacy.
- These issues show the need for responsible AI governance to adopt ethical AI guidelines to ensure transparency.
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Mayank Uniyal is MCom graduate in International Business. He has over 7 years of experience in content writing. He is working in the education domain since the beginning of his career. He covers news and updates fro
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ML Munjal is a well regarded and reputed university with strong academic programs, experienced faculty, and industry collaborations providing good placements to well prepared and talented students . University gets placements oppportunity from approximately 83 recruiters ( 10% marketing research, 23% consulting, 10% Automobile and manufacturing, 20% IT, 22% BFSI 'S, 10% Retail ) . University has a placement stats with average package of 8.7 LPA, medain package of 8 LPA, the highest package of 32.21 LPA .