/>
X

53% of enterprises spending more than $20 million a year on AI technology, talent

Among seasoned adopters, 68% have spent more than $20 million over the past year on AI, according to Deloitte.
larry-dignan-eic.jpg
Written by Larry Dignan, Contributing Editor on

Fifty-three percent of enterprises adopting artificial intelligence have spent more than $20 million over the past year on technology and talent, according to a survey by Deloitte.

The State of AI in the Enterprise survey, based on 2,737 information technology and line of business executives, highlights how AI implementations are moving into production at a rapid pace. Deloitte's respondent base included 26% "seasoned adopters," 47% "skilled" adopters and 27% "starters." The respondents were classified based on AI adoption and systems launched into production.

Among seasoned adopters, 68% have spent more than $20 million over the past year on AI, according to Deloitte. In addition, 81% of seasoned adopters have reported payback on investment in less than two years.

Primers: What is AI? | What is machine learning? | What is deep learning? | What is artificial general intelligence?    

As for the AI technology portfolio, 67% of respondents are using machine learning today with 97% planning to with 54% using deep learning and 58% using natural language processing, said Deloitte.

These AI adopters see more efficient processes as the primary justification for deployments with improving decision making also a key goal. AI adopters are also generally buying more technology than building it, but only 47% of respondents said they have skill selection suppliers, said Deloitte.

ai-spending-2020.png

Other key findings include:

  • 45% said they have a high level of skill around integrating AI technology into their existing IT environment.
  • 93% are using cloud-based AI with 78% using open source AI.
  • 61% said they thought AI will substantially transform their industries.
  • 62% said they had major and extreme concerns about cybersecurity vulnerabilities with AI, followed by failures impacting business operations and using personal data without consent. Liability and changing regulations were also top concerns.
  • 95% of respondents were concerned about the ethical risks of deploying AI.
  • 62% of respondents said AI technologies should be heavily regulated.  
  • The main beneficiaries of artificial intelligence success are IT departments themselves
ai-leading-today-and-the-future.jpg

AI video interviews:

Related

Hybrid work is here to stay, so companies are spending more on security
A middle aged man in casual attire sat at his computer desk speaking to colleagues via a split-screen video chat application

Hybrid work is here to stay, so companies are spending more on security

Business
Feeling burned out? Your boss is probably more likely to quit than you are
male desk worker looking at his computer screen with a stressed and tired expression

Feeling burned out? Your boss is probably more likely to quit than you are

CXO
Microsoft to curtail some of its facial recognition capabilities in the name of 'Responsible AI'
microsoftcurtailsfacialrecog

Microsoft to curtail some of its facial recognition capabilities in the name of 'Responsible AI'

AI & Robotics