Businesses are spending millions on AI technology

Among enterprises that have already adopted artificial intelligence (AI) solutions, more than half spent north of $20 million on the technology in the past 12 months alone, according to new reports from Deloitte. Based on a poll of 2,737 IT and line-of-business executives, the State of AI in the Enterprise report claims enterprises spent funds acquiring both new technology and increasing their talent pool. The report divides the respondents into three distinct categories: Seasoned Adopters, Skilled and Starters. Among Seasoned Adopters (a quarter of the entire poll base), two thirds (68 percent) spent more than $20 million last year. Many (81 percent) also said they broke even on the technology in less than two years.