Three-quarters of semiconductor executives surveyed for the report (77%) said they have adopted AI within their business or are piloting the technology.

The semiconductor industry is the most bullish about adopting AI and understanding the impact it will have on their industry, according to Accenture Semiconductor Technology Vision 2019.

Three-quarters of semiconductor executives surveyed for the report (77%) said they have adopted AI within their business or are piloting the technology.

In addition, nearly two-thirds of semiconductor executives (63%) expect that AI will have the greatest impact on their business over the next three years, compared with just 41% of executives across 20 industries.

This ranks AI higher for chipmakers than other new disruptive technologies surveyed, including distributed ledgers, extended reality and quantum computing.

AI, comprising technologies that range from machine learning to natural language processing, enables machines to sense, comprehend, act and learn in order to extend human capabilities.

According to the report, AI will have a two-fold impact on chipmakers: opening new market opportunities for them and improving the design and fabrication process.

“AI will be a major growth driver for the semiconductor industry in light of high manufacturing costs and the growing complexity of chip development,” said Syed Alam, a managing director at Accenture who leads its Semiconductor practice globally. “To capture this opportunity, chipmakers should leverage AI technologies and partnerships to increase efficiency across their operations.”

Nearly nine in 10 semiconductor executives (88%) say that 5G will revolutionize their industry by offering new ways to provide products and services.

This revolutionary impact is being driven by the high demand for 5G-enabled smartphones, growth in autonomous vehicle manufacturing, and the rise in government initiatives for building smart cities.

The report also cites challenges that 5G network implementations pose for the semiconductor industry, including the high costs for technology and infrastructure advancements and the concerns around privacy and securityT