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Executives Say AI Will Change Business, But Aren’t Doing Much About It

American business executives expect artificial intelligence to have a large impact on their companies, but few are actually doing anything with AI, according to a new MIT- Boston Consulting Group survey. From a report: Key takeaways, per co-author and BCG senior partner Martin Reeves: Nearly 85% of the 3,000-plus executives surveyed expect AI will give them a competitive advantage But their adoption of AI isn’t matching up: just 1 in 5 of the companies use AI in some way, and only 1 in 20 incorporate it extensively. “Less than 39% of all companies have an AI strategy in place,” they wrote. The barriers for adoption include: access to data to train algorithms, an understanding of benefits to their business, a shortage of talent, competing investment priorities, security concerns, and a lack of support among leaders.

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