AI is increasingly becoming a business imperative. Nine in 10 Fortune 1000 companies are not only investing in AI, but are increasing those investments, with 92% reporting measurable business benefits from their current AI use — up from 72% in 2020 and just 28% in 2018, according to a 2022 NewVantage Partners executive survey.
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Still, only 26% of companies say their AI initiatives have actually moved into widespread production. The biggest obstacle? Cultural barriers, with executives 11 times more likely to say culture is the greatest impediment to AI success than to cite technology limitations as the biggest barrier.
And the cultural challenges have actually gotten worse, with 92% of executives citing cultural factors this year vs. 81% in 2018.
The upshot? Companies are finding that the key to successfully operationalizing AI comes down to people, and putting them at the center of their initiatives.