By Melanie Batley
How are some of the world’s largest and most influential companies deploying AI, and what are the most mature AI companies doing that the others are not? KPMG interviewed senior leaders at Fortune 500 companies, and in a new report, AI transforming the enterprise, published valuable insights that will help organizations understand how they can stay competitive in the age of AI.
Specifically, the report uncovers that companies with the most mature AI capabilities in the sample are spending, on average, $75 million on AI talent today, with approximately 375 full-time employees working on AI. And they expect these numbers to grow - they anticipate between 500 and 600 employees working on AI in the next three years.
The survey findings are based on in-depth interviews with senior leaders at 30 large cap companies that represent a significant portion of the overall AI market, and secondary research on news coverage and job postings.
The research also found that AI scaled across the enterprise is rare today – only 17 percent of the companies interviewed reported use of AI at scale today. But many companies are setting this as a key objective and in three years, half of these companies expect to be using AI at scale.
“The AI landscape has rapidly evolved in the last few years, and the technology is ready to deliver true value today,” said Cliff Justice, principal of Innovation & Enterprise Solutions at KPMG. “In the next three years, many enterprises are aiming to advance beyond initial, functional deployments towards true scale.”
Most companies interviewed reported that their investments in AI-related talent and supporting infrastructure will increase by 50 to 100 percent in the next three years. But the level of investment varies substantially by company - the report also found a nearly ten-fold gap in resources devoted to AI between the companies with more mature AI capabilities and the early stage companies.
To summarize the key learnings from the interviews as well as insights from working with clients, the report highlights eight key trends around deploying technology, organizational capital and data strategy for AI success. These trends can serve as guideposts for large enterprise organizations that are serious about competing:
“The investments being made today by the world’s largest companies will have an enormous influence on both the global economy and its workforce. We believe AI could truly be a game changer," Justice said, "and has the potential to create new winners and losers.”.
For more information or to arrange an interview, please contact Melanie Batley.