AI-driven processes are 'increasingly vital for growth,' says expert
Almost eight out of 10 – or 74% – midsize Canadian organizations are adopting generative AI into their business operations.
But only 49% have full or partial integration of AI technologies, according to a survey by consulting firm RSM Canada.
"Middle market companies are quickly grasping the potential of AI, which is poised to significantly impact how companies handle numerous critical functions in the years ahead," said RSM consulting leader Rhys Morgan.
“Yet, businesses are also facing the challenges that come with integrating breakthrough technologies into their operations, leading many to face a shortage of experienced staff and a need for external assistance, particularly as AI-driven processes become increasingly vital for growth."
Canadian workers are falling behind in embracing generative artificial intelligence (AI) despite the technology being able to revolutionize workplaces globally, according to a recent survey.
RSM noted that 84% of the executives who participated in the survey said that generative AI has impacted their organization more positively than expected. Meanwhile, 58% find the technology difficult to implement, while 76% said there is a necessity to get outside help to maximize the use of this advanced technology.
The report also indicated that 61% of middle-market Canadian companies that have adopted generative AI tools are using them for automated tasks, while 51% are using them to further enhance their customer service. Forty-six percent are using generative AI to increase employee productivity and creativity. On the other hand, only 14% of businesses that use generative AI technologies report full integration across core operations and workflows.
When it comes to tools, 75% of middle-market companies use ChatGPT, 34% use Microsoft Copilot, and 20% use Google Bard/Duet.
For companies that are already using generative AI, 71% stated that their organization has a budget for AI investments, and 78% of those who have a budget dedicated to generative AI investments said their AI budget will increase in the year to come.
The survey also noted several concerns that middle-sized companies have in connection to the implementation of generative AI as part of their processes and workflow, including
“Many data security and privacy concerns are not exclusive to AI,” said RSM US Director Dave Mahoney. “Instead, they are often data loss problems that already exist and extend beyond AI applications. Implementing effective data controls is not a new concept, but they now need to be applied to AI solutions.”
The survey was conducted in February and March and involved 510 respondents (407 in the US and 103 in Canada) who had influence on decisions related to technology investments within their organization.
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