Boomi, a leader in intelligent integration and automation, has unveiled a new report titled “A Playbook for Crafting AI Strategy,” developed in collaboration with MIT Technology Review Insights. This extensive study, based on a global survey of C-suite and senior data executives and in-depth interviews with business leaders, offers a detailed examination of the current state of enterprise AI adoption and provides actionable strategies for navigating the evolving landscape of artificial intelligence.
Amidst ambitious AI predictions, such as PwC’s forecast that AI could contribute up to $15.7 trillion to global GDP by 2030, businesses continue to face significant challenges in transitioning from pilot projects to enterprise-wide AI deployment. For instance, only 5.4% of U.S. businesses were utilizing AI to produce a product or service in 2024, underscoring the need for strategic and organizational adjustments to harness AI effectively. While 95% of companies are using AI and 99% plan to do so in the future, a majority are still confined to pilot projects. Specifically, 76% have deployed AI in only one to three use cases. As half of the surveyed companies anticipate full AI integration across all business functions within two years, this year is critical for laying the groundwork for enterprise-wide AI adoption.
AI-related expenditures, which were modest in 2022 and 2023, are projected to rise significantly in 2024. Nine in ten respondents plan to boost spending on data readiness, including platform modernization and cloud migration, with a substantial portion expecting increases in AI-related investments ranging from 10% to 49%.
Effective AI deployment hinges on data liquidity—the ability to seamlessly access and integrate data from various sources. However, data quality remains a major barrier, particularly for larger firms with extensive data and legacy IT systems.
A significant majority of organizations (98%) prefer to wait for proven, secure AI solutions rather than be first movers. Governance, security, and privacy concerns are the primary factors limiting the speed of AI deployment, with 45% of respondents, and 65% from the largest companies, citing these issues.
This report provides critical insights for organizations aiming to advance their AI strategies and address the prevailing challenges in the field.
