Key Findings

1. Only one in five business leaders `fully understands’ artificial intelligence (AI) technologies; over three quarters (76%) admit to only `somewhat’ understanding AI.

2. Only 6% reported to have fully deployed AI, and that it is working as expected; a further 27% have limited deployments, with results as yet unknown.

3. Almost one quarter (24%) have no AI deployment yet, with no future plans to adopt.

4. Customer service leads the way when it comes to organisational functions that derive revenue from AI capabilities – it was cited by 29% of respondents.

5. Competitive advantage is by far the strongest driving force of AI adoption (65%). Others are influenced by customer demands (44%), and the need to resolve specific business operational or technical problems (39%).

6. An overwhelming majority (72%) cited improvement of the experience and engagement with customers as their top expected outcomes from investment in AI.

7. Cultural or change management challenges (52%) and lack of AI knowledge and maturity (49%) emerged as the biggest barriers to achieving AI realisation (52%).

8. Just under a third of respondents believe that by the year 2025, 10% of their organisation’s workforce will be replaced by AI.

9. Most often, it’s the CIO who is championing the development of an AI strategy at the organisation, but it can also be driven from the very top – the CEO or COO.

10. Only 7% of businesses participating in this survey have employed a Chief AI Officer, while 13% report the AI responsibility already sits under another C-suite role.