Big businesses need an A.I. transformer to effectively harness A.I. technology and overcome challenges in technology, talent, and change management. Collaborating with a transformer can provide customized solutions and support, which significantly increases the likelihood of achieving a positive financial impact from A.I. In fact, companies that successfully engage with transformers are three times more likely to see a high financial return from their A.I. investments.

Incumbents often face three key barriers in A.I. adoption: technology gaps, a shortage of skilled talent, and difficulties in change management. Approximately 75% of surveyed incumbents reported challenges related to lacking the necessary tools for A.I. solutions, while 83% struggled to source tech talent and 83% found it difficult to change existing processes to accommodate new technology.

To foster meaningful collaborations, incumbents should shift their mindset to view transformers as allies rather than competitors. This involves prioritizing tailored solutions over off-the-shelf products and embracing experimentation. Additionally, incumbents need to be transparent with their data and actively involve transformers in identifying use cases and structuring collaborations, which can lead to more effective A.I. implementations and shared benefits.