“There is a significant gap in the adoption of generative artificial intelligence (AI) in the corporate world.
A current report from MIT shows: 70 percent of companies with annual sales of more than $10 billion are already investing capital in generative AI. For the smaller players with sales between 500 million and one billion, this number is a meager 3 percent.
For top managers it is clear: the main benefit of investing in AI lies in optimizing efficiency. Jon Francis, chief data and analytics officer at General Motors, highlights the significant progress his company has already made. "From HR chatbots in the back office to predictive maintenance in production to scaling in IT - we are more efficient today than ever before."
Companies are striving to automate their core processes using AI algorithms.
“If we can automate our core processes using self-learning algorithms, we will be able to move much faster and achieve more with the same number of employees,” says Yemi Oshinnaiye, CIO of US Transportation Security Financial Services. "Ultimately for us this means automation at scale and at high speed."
It's clear: executives from large corporations are more optimistic about the pace of AI integration in their sectors. 86 percent of this group see rapid progress, compared to just 34 percent of small business representatives. This skepticism among the smaller players also dampens expectations of possible efficiency gains in the next two years.
This skepticism also affects investment behavior. While 80 percent of executives at large companies plan to increase their AI and data budgets by more than 25 percent next year, only 12 percent of smaller companies plan similarly. This discrepancy could be risky for small companies because they could lose out on the big players in the AI race." [1]
1. Großkonzerne setzen stark auf KI - Kleinunternehmen hinken hinterher. Frankfurter Allgemeine Zeitung (online) Frankfurter Allgemeine Zeitung GmbH. Oct 10, 2023. Von Holger Schmidt
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