new research from goldman sachs This indicates that the use of artificial intelligence (AI) in US companies is being curtailed.
According to a survey of major banks cited by Seeking Alpha, only 6.1% of companies use AI in the production of products and services. report Sunday (December 15th). This was up from 5.9% in the third quarter.
Financial companies and insurance companies had the highest AI adoption rates, while information and manufacturing companies had the highest AI adoption rates. and Education companies reported a decline in AI adoption.
“We continue to see significant impacts on labor productivity in the limited areas where generative AI has been deployed,” the Goldman report said. “Academic research suggests a 23% increase in productivity, while corporate anecdotes suggest a slightly larger increase of around 30%.”
Goldman also expects continued growth in investment, particularly in AI. semiconductor industryanalysts predict a 37% increase in revenue by the end of next year.
The adoption rate for companies with more than 250 employees is 10% and is likely to increase. of Adoption over the next six months.
According to research by PYMNTS Intelligence. in spite of Many finance leaders report increased use of generative AI (GenAI) Returns from investment are limitedOnly 13% of CFOs say their ROI is “very good,” compared to 27% in March.
“Additionally, 65% of CFOs cite limited ROI as a drawback to deploying AI across their organizations,” PYMNTS wrote last month.
“This decline in ROI sentiment is due to CFOs Recognize the potential of technologythey are still working on it with maximum impact on the bottom line. Companies with more positive ROI invest more in GenAI. Mid-market companies with high ROI are increasing their AI budgets by 19%, compared to just 6.2% for companies with little ROI. ”
Meanwhile, a Goldman report found that AI adoption rates among small and medium-sized businesses (SMBs) have doubled.but Many of these companies are concerned about cybersecurity and finding beneficial uses for the technology.
PYMNTS explored the integration of AI into small business financial management in a recent conversation with payments experts. sarah actonChief Customer Officer at BILL. Her message to small businesses hesitant about digital transformation was simple: “Automation, automation, automation.”
Acton emphasized that: long term benefitsThe benefits far outweigh your investment, including time savings and reduced risk. As small businesses grapple with increasing complexity, automation and AI and Trusted partnerships are key, the report says.
