New research from technology consulting firm Searce has identified the challenges and successes facing businesses as they implement artificial intelligence (AI) technologies in its State of AI 2024 report. The key findings reveal that only 51% of respondents reported "very successful" AI initiatives, while 42% indicated "somewhat successful" outcomes. Despite varying levels of success, a quarter of respondents plan to increase AI investments by more than 50% over 2024 levels, with 8% anticipating an increase of up to 100% or more.
In terms of challenges, 45% of respondents cited data privacy concerns, 40% indicated legacy technology limitations, and 40% highlighted a lack of qualified talent as the leading limitation for businesses adopting AI.
The report was based on a survey of 300 C-suite and senior technology executives from organizations in the US and UK with revenues of at least $500 million.
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