U.S. CEOs See Greater Willingness To Use Artificial Intelligence: KPMG Survey

More than two-thirds of U.S. life sciences CEOs say their organizations are ready to adopt advanced artificial intelligence technology, but they acknowledge there are barriers – such as skills, complexity and costs – to implementing it, the KPMG's 2017 CEO Outlook found. KPMG's survey also found that more than 90 percent of CEOs were forecasting annual revenue growth of less than 5 percent for the next three years, reflecting less optimism than the 2016 survey. The level of readiness among U.S. life sciences companies -- with 68 percent of CEOs saying they are prepared for artificial intelligence – exceeds the 22 percent from Asian-Pacific companies and 47 percent of European organizations whose leaders expressed that their organizations were ready. Two-thirds of U.S. executives at the largest pharma and medical device makers were also concerned about integrating this emerging technology into business processes. The biggest barriers to implementing new technologies were the lack of internal skills/knowledge (35 percent) and the complexity of implementations (16 percent), followed by the lack of budget (14 percent), according to the 43 CEOS of the largest U.S. life sciences companies who were surveyed.