AI in Business: Survey Reveals the State of Readiness
Kevin Benoit
May 20, 2024
In February 2024 Benoit Global conducted a survey involving 150 business and technology leaders who had recently completed the MIT “Artificial Intelligence: Implications for Business Strategy” certification and analyzed their responses for adopting and integrating Artificial Intelligence (AI) in their workplaces. The results revealed an overall enthusiasm for implementing AI, but with mixed levels of preparedness and significant gaps in knowledge, infrastructure, and strategic planning.
Employee attitudes towards AI are generally positive, with 71% expressing excitement or cautious optimism. However, 19% cited skepticism or resistance, underscoring the need for leadership to address fears of displacement, distrust in AI capabilities, and concerns about costs and resources. The primary barrier to AI adoption, noted by 58% of respondents, is a lack of understanding of AI technologies, indicating a need for extensive education and training initiatives. Cost is another significant hurdle, with 45% viewing it as a barrier, and 28% citing a lack of suitable AI solutions.
An overwhelming 96% of respondents emphasized the importance of organizational culture in AI integration. A supportive culture encourages collaboration, experimentation, and learning, which is essential for incorporating new technologies, driving growth, and boosting employee engagement.
There is a significant gap in AI readiness among organizations, with 89% of respondents stating their companies are only somewhat or not at all prepared for AI integration. This highlights both the urgent need for strategic planning and resource allocation and the disconnect between perceived preparedness and organizational culture: while employees recognize the need for a supportive culture, they aren't experiencing it.
Yet despite this enthusiasm for AI, only 3% of respondents indicated that their organizations have fully adopted AI solutions, showing most companies are in the early stages of integration. Additionally, 43% report no significant impact from AI-driven innovation, and 77% observe no or only slight impacts on efficiency and productivity, suggesting a need for more effective implementation and measurement strategies.
There's also a notable gap in ethical guidelines for AI, with only 15% having a formal code of ethics for AI implementation already in place. Furthermore, communication about AI changes are inconsistent, with nearly equal numbers reporting regular communication (31%) and no formal communication plan (29%).
Overall, the survey shows an environment where optimism about AI prevails, yet is marked by significant areas for improvement. Our full report includes suggestions for:
Addressing readiness gaps
Enhancing AI familiarity
Developing an AI integration strategy
Clear communication guidelines
Establishing an AI ethics code
Prioritizing these initiatives can create an environment where both employees and the organization thrive, ensuring long-term success in an era of technological advancement. Read the full report for a deeper dive into our findings and to learn more about implementing strategies for success.
Kevin Benoit is the Co-Founder and Head of Operations and Innovation for Benoit Global, a human resource consulting firm specializing in mergers & acquisitions.