According to the KPMG Q2 AI Quarterly Pulse Survey, AI is rewriting the playbook with 82% of leaders agreeing their industry’s competitive landscape will look different in the next 24 months. The survey found the top three areas where organizations will allocate generative AI (Gen AI) budget are cyber and data security (67%), risk and compliance (52%) and operations (48%). When it comes to demonstrating return on investment to investors, profitability and established responsibility as well as governance policies were the most important factors, according to 55% of leaders surveyed.
This dynamic also extends to the boardroom. Only 8% believe they have “substantial” AI board expertise. The majority (69%) of leaders believe their board is “moderately” proficient on AI-related topics. Yet, 45% say their company’s board is covering AI-related topics in every meeting, and another 41% report AI-related topics are covered frequently. The survey also found chief information officers continue to lead AI-related strategies across the enterprise, according to 87% of leaders.
“Our clients are no longer asking ‘if’ AI will transform their business; they’re asking ‘how fast’ it can be deployed. This isn’t just about technology adoption, it’s about fundamental business transformation that requires reimagining how work gets done and how it is measured,” says Todd Lohr, head of ecosystems and national operations leader for advisory markets at KPMG.
