The Impact of AI Investment: Moore Global Shares Key Findings
Earlier this year, as part of the conversation on the broader impacts of AI on the business world, we examined a few emerging uses of AI that can improve your business. Our colleagues at Moore Global recently took that conversation to the next level, publishing a comprehensive study by Moore Intelligence that reveals the attitudes of ambitious mid-tier companies towards AI across 12 major economies.
Below you’ll find a summary and some key takeaways from Moore Global’s study that shine a promising light on the future of AI investment in the business world.
Findings and Figures
Some of the most important high-level findings shared by the study include:
- Widespread Adoption: Across the globe, 77% of respondents have increased their investment in or usage of AI over the last four years. This reflects a resounding commitment by businesses to engage with AI and explore its potential benefits.
- Revenue Growth: Companies with at least 250 employees that have rapidly adopted AI have seen remarkable revenue growth, averaging 15% between 2019 and today. This growth rate is more than double that of firms where AI investment has stalled.
- Investment Levels: To achieve these positive results, companies have invested an average of $1.5 million in AI technology over the past year. Notably, the automotive and aviation sectors have gone even further, with an average investment of $3.2 million.
Key Benefits of AI
Business leaders worldwide have identified numerous advantages to investing in AI:
- Productivity Enhancement: Nearly half (48%) of decision-makers see productivity improvements as the primary benefit of AI. This gain in efficiency can be a game-changer for businesses, enabling them to do more with less effort.
- Improved Customer Experience: AI is also perceived as a tool for enhancing the customer experience, with 43% of respondents acknowledging its positive impact.
- Workforce Impact: Contrary to concerns about AI leading to job losses, only 22% of respondents view AI as a means to reduce headcount or payroll costs. In fact, the majority of businesses don’t see AI as a significant threat to employment.
Regional Variations in AI Adoption
While AI adoption is widespread, there are notable differences in the rate of uptake among regions and sectors:
- High Adoption Rates: Brazil and Spain lead in AI adoption, with 92% and 86% of decision-makers respectively increasing their AI investment or usage over the past four years.
- Industry-Specific Adoption: Sectors such as information, communication, technology, accounting and finance have embraced AI with adoption rates consistently above 80%.
- Public Sector Involvement: Although the public sector reported the lowest rate of AI adoption, 58% of public sector respondents still reported increased investment or usage of AI over the four-year period.
The Future of AI
Looking ahead, 65% of decision-makers expect AI usage to continue growing within their organizations over the next three years and beyond. This expectation is particularly prevalent in emerging markets and information and communication technology businesses.
While AI continues to spark debates about its societal impact, it’s clear that businesses around the world view AI as an opportunity for growth and improved performance. Incorporating AI into your business strategy may be the key to staying competitive in a rapidly evolving digital landscape.
If you’re curious about how your business can leverage the power of AI, talk to your DMCL advisor and stay tuned for more insights on how AI is shaping the future of business in Canada and beyond. To dive deeper into the study and its findings, click the button below.
DMCL is an independent member of Moore North America, Inc., which is associated with the Moore Global Network Limited. To learn more about the Moore Global Network, visit www.moore-global.com.