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Understanding the state of AI deployment—how broadly it is being used and in what ways—is challenging for many business leaders. Machine learning and other technologies are advancing significantly faster than many anticipated just a few years ago. The pace of development is accelerating and can be hard to grasp.
In this environment, staying competitive begins with a clear view of the AI landscape: where do some of the world’s largest and most influential companies stand in terms of AI investment, deployment, and real-world outcomes?
We conducted the KPMG 2019 Enterprise AI Adoption Study to gain insight into the state of AI and automation deployment efforts at select large cap companies. This involved in-depth interviews with senior leaders at 30 of the world’s largest companies, as well as secondary research on job postings and media coverage. These 30 highly influential, Global 500 companies represent significant global economic value – collectively, they employ approximately 6.2 million people, with aggregate revenues of $3 trillion. Together, they also represent a significant component of the AI market.
To summarize the key learnings from our interviews and our insights from working with clients, we highlight eight key trends that can serve as guideposts for your organization. If your organization is lagging in AI deployment, these insights could help you move up the “learning curve” faster. If your organization is leading in AI deployment, these insights may help fill in gaps and afford you greater confidence along your AI journey.
Nearly all the executives we interviewed see AI as playing a role in creating new winners and losers.
What’s at stake? Nearly all the executives we interviewed see AI as playing a role in creating new winners and losers. AI has broad enterprise applications and the potential to shift the competitive position of a business. The technologies under the AI umbrella are already contributing to product and service improvements—and they will be important drivers of innovation for wholly new products, services and business models.
Against this backdrop, it is important to ask how AI can transform your business, and deploy the right technology, organizational capital, and data strategy to achieve that vision.
- Rapid shift from experimental to applied technology
- Automation, AI, analytics and low-code platforms are converging
- Enterprise demand is growing
- New organizational capabilities are critical
- Internal governance emerging as key area
- The need to manage AI
- Rise of AI-as-a-service
- AI could shift the competitive landscape
AI will continue to play a major role in the development of new business, financial and operating models in the 21st Century. The investments being made today by some of the world’s largest companies will have an enormous influence on both the global economy and its workforce and has the potential to create new winners and losers.
Access the full paper to learn more about these trends and how they can help you transform your business.