12/24/2023 0 Comments World anvil app“The data illustrates that leaders across industries are trying to grasp the impacts of AI on their business. 52% say that their company is somewhat ready to adopt AI capabilities.31% say it would help if it was used to develop new products, services and offerings.32% believe they could get ahead of the competition if they used it to increase talent.Many businesses are also gearing up to embrace AI in the future: Marketing Technology News: Businesses Are Boosting Online Presence and Pursuing Tech-Forward AI Projects, According to Internal Research From Fiverr 39% will educate employees on AI compliance & regulation.74% will need a third party to assist with AI adoption.14% will allocate 41% – 50% of their budget to AI, however, almost a quarter (24%) said they expect this amount to be spent on AI in the next 5 years.In order to address these challenges, C-suite are implementing a number of tactics, including: Surprisingly, (74%) say they believe developing AI powered products and services is important to their organization while (77%) said they believe investing in AI infrastructure to be critical, noting that COOs are overwhelmingly the most pessimistic about adoption. Additionally, over 2 in 5 (44%) said they need to clean the data they already have and the same percentage said they need to store their data more effectively, while (42%) reported needing better software solutions to manage their data. Second, over 3 in 5 (61%) agree that they feel like they are drowning in data and unable to use AI to gain actionable insights, compared to less than a quarter (23%) who disagree. In fact, over 7 in 10 (72%) feel their company is at a disadvantage in leveraging AI in comparison to their competitors. First, AI adoption within SaaS companies has barely gotten off the ground with only (7%) reporting that their company has already adopted AI capabilities, leaving over (93%) who have yet to do so. The survey found two major challenges to AI adoption. More than half (52%) report ready to adopt AI yet COOs are pushing backĪnvil, a SaaS platform enables companies working with documents to be data-first and AI-ready, released its first AI Readiness & Adoption Report 2023. The report surveyed hundreds of C-suite executives and decision makers which revealed AI adoption to date, sentiment on the importance of AI, the factors considered to implement AI to stay ahead of the competition, and more.
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