Nearly 60% of firms yet to move AI beyond pilots as deployment remains key challenge: Report

Nearly 60% of organizations surveyed by Citi remain in the exploration or pilot phase,” the report said, identifying enterprise-wide deployment as the main challenge facing businesses.

Citi found that business model transformation has emerged as the leading objective for AI investment, cited by 34 per cent of respondents, followed by capability building at 32 per cent. Another 25 per cent said their primary aim was to improve specific business performance indicators.

The report also found that organisations further along in AI adoption were more likely to report significant gains. Among companies in the production and scaling stages, 60 per cent reported transformational value creation of more than 15 per cent through cost reduction, employee productivity or revenue growth.