Study: AI adoption spends jump among enterprises as eliminating data privacy concerns remains a foremost opportunity for driving long-term growth and ROI

Study: AI adoption spends jump among enterprises as eliminating data privacy concerns remains a foremost opportunity for driving long-term growth and ROI 
BusinessWire, San Francisco, CA; by Kayla Spiess; 8/14/24  
Searce, a modern technology consulting firm that empowers businesses to be future-ready, today released its State of AI 2024 report. Polling 300 C-suite and senior technology executives – including Chief AI Officers, Chief Data & Analytics Officers, Chief Transformation Officers, and Chief Digital Officers – from organizations across the US and UK with at least $500 million in revenue, the report examines some of the biggest trends, successes and challenges facing businesses in their decision-making, strategy and execution as they try to unlock AI growth. [Key takeaways:]

• Success for AI initiatives remains spotty yet spends continue to grow
• Data privacy concerns, legacy tech and talent shortage present leading limitations for businesses adopting AI
• GenAI remains top-of-mind
• Over 60% of businesses purchase AI solutions vs. build them internally [Note: the businesses interviewed have at least $500 million in revenue]