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.
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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.
Other key findings include:
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