The survey results show that high-growth companies are not only more than twice as likely to actively use AI compared to lower growth companies, but they also have bigger plans in a much shorter timeframe. Of the double-digit growth companies surveyed, while almost all (94%) intend to use in AI for decision making within the next three years, more than half plan to do so over the next 12 months. In comparison, the majority of low-growth companies are only looking to invest in decision-making AI in the next three to five years.
“What’s striking about the research is the difference between double-digit growth companies and those with lower growth,” says Susan Etlinger, Industry analyst with the Altimeter Group. “Double-digit growth companies are further along in their AI deployments, but also see a greater urgency in using more AI. They are looking at a one to three year timeframe – often really focused on the coming year. Lower growth companies are looking at more of a 5-year timeframe. What this says to me is that the more you know, the higher your sense of urgency is.”
Crucially, it’s not too late for those companies and leaders who are further behind in their AI journeys to start now, to increase their chances of remaining competitive.
Start small, learn fast and scale
The research findings have shown that AI is successfully utilised by leaders to invest more time in humans, while helping them create and execute new strategies. In addition, we have seen how leaders value AI’s ability to help them grow their own skills.
Evidence showing that the fastest-growing companies have invested – and will continue to invest – in AI also highlights the importance of ensuring that business, inspired by their leadership, progress on their AI journey sooner, rather than later, before they run the risk of losing their competitive edge to more progressive companies.
In Microsoft EMEA President Michel van der Bel’s words: “Start small, but start with intention. This will help teams build trust, learn from feedback and build confidence. In a nutshell, this is what will help get your AI journey off with a strong start.” Progress today, and reap the benefits for both yourself as a leader, and your company as a whole, tomorrow.
For more information on progressing your AI journey, please feel free to visit our AI business resources.