THOUGHT BOX

IDC forecasts that spending on AI technologies will grow to $97.9B in 2023, more than two and a half times the spending level of 2019. In addition: 

• 73% of IT and line-of-business executives believe AI is critically important to their business now.
• 61% say AI will substantially transform their industry in the next three years.
• 53% of enterprises that have AI in production spent more than $20M in the last year expanding and fine-tuning their strategies.
• 26% of all enterprises say AI technologies enable them to gain a lead over their competitors.

These and many other fascinating insights are from Deloitte Insights' Survey: State of AI in the Enterprise, Third Edition: Thriving in the Era of Pervasive AI.Deloitte surveyed 2,737 IT and line-of-business executives between October and December 2019 from nine countries. To qualify for the study, all responding executives needed to have experience evaluating, budgeting for and implementing AI investments. Deloitte also recruited technology subject-matter experts in AI and machine learning. 

Read more the key insights from the study here

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