Maintaining AI competitive advantage

#artificialintelligence 

A year ago, we concluded that the window for AI competitive advantage might be closing.1 We based this assessment on data from the second edition of Deloitte's State of AI in the Enterprise survey: 57 percent of executives at AI-adopting firms believed that AI would substantially transform their businesses within three years, and 38 percent believed the technologies would do the same for their industry during that time frame (see figure).2 The 19-point gap suggested that AI adopters had a fairly small window before industry competitors cut into their lead. We've released the results of the third edition of the Deloitte State of AI study,3 and adopters continue to be bullish: More than eight in 10 report that AI will be "very" or "critically" important to their business success in the next two years, and the portion who regard it as critically important is poised to grow from 23% today to 41% in two years. And they're continuing to grow their investments: 71% of adopters expect to increase their AI spending in the next fiscal year.