To find out the current state of AI, we assessed AI in business through the eyes of 975 executives across industries in the U.S. and Europe, asking them about their attitudes, expectations and plans. The key findings reveal that AI is clearly top of mind for many executives:
- Executives are enthusiastic about the importance and potential benefits of AI. Roughly twothirds of executives say that AI is extremely or very important to their companies today, and more than eight out of 10 expect this will be the case three years from now.
- Faster-growing companies are more optimistic and aggressive when it comes to AI. Executives at faster-growing companies are more likely than others to view AI as important, and more likely to expect major benefits in the coming years. Eighty-six percent of executives at these companies say AI is extremely or very important to their company’s success, compared with 57% of those at their slower-growing competitors.
- There is a major disconnect between executives’ optimism about AI and actual AI implementation. While two-thirds of executives said they knew about an AI project at their company, only 24% of that group – just 15% of all respondents – were aware of projects that were fully implemented.
- Many companies appear to lack a strategic focus for AI. When identifying the challenges they face in implementing AI and the technologies they’re targeting, executive responses were relatively undifferentiated in both areas – essentially adding up to “all of the above.”
- Many companies are not addressing the ethical dimensions of AI. Only about half of the executives surveyed said their companies have policies and procedures in place to identify and address ethical considerations – either in the initial design of AI applications or in their behavior after the system is launched.
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