New analysis from Goldman Sachs exhibits muted synthetic intelligence (AI) use at American firms.
Just 6.1% of companies are utilizing AI to supply their services or products, in line with analysis by the banking large cited in a Looking for Alpha report Sunday (Dec. 15). That’s up from 5.9% through the third quarter.
Finance and insurance coverage firms confirmed the very best charge of AI adoption, whereas data, manufacturing and schooling firms reported decreased AI adoption.
“We proceed to see giant impacts on labor productiveness within the restricted areas the place generative AI has been deployed,” the Goldman report mentioned. “Educational research suggest a 23% uplift to productiveness, whereas firm anecdotes suggest barely bigger good points of round 30%.”
Goldman additionally tasks ongoing AI funding development, particularly within the semiconductor industry, the place analysts forecast a 37% enhance in income by the tip of subsequent yr.
Companies with greater than 250 workers had an adoption charge of 10%, and can seemingly present an uptick of adoption over the following six months.
Analysis by PYMNTS Intelligence has discovered that in spite of elevated utilization of generative AI (GenAI), many finance chiefs report limited returns from their investments, with simply 13% of CFOs saying they’re seeing “very optimistic” ROI, in comparison with 27% in March.
“Moreover, 65% of CFOs cite restricted ROI as a disadvantage to implementing AI throughout their organizations,” PYMNTS wrote final month.
“This decline in ROI sentiment means that whereas CFOs recognize the technology’s potential, they’re nonetheless grappling with its full influence on their backside strains. Companies with extra optimistic ROI are investing extra closely in GenAI. Center-market firms experiencing sturdy ROI are growing their AI budgets by 19%, in comparison with simply 6.2% for these seeing negligible ROI.”
In the meantime, the Goldman report discovered that small and medium-sized companies (SMBs) have doubled their adoption charge of AI, although many of these firms have issues about cybersecurity and discovering useful makes use of for the know-how.
PYMNTS explored AI’s integration into SMB monetary administration in a latest dialog with funds consultants together with Sarah Acton, chief buyer officer at BILL. Her message for SMBs hesitant about digital transformation was easy: “Automate, automate, automate.”
Acton pressured that the long-term benefits, similar to time financial savings and threat discount, far outweigh the funding. As SMBs cope with an more and more advanced panorama, automation, AI and trusted partnerships are essential, that report mentioned.
