Diving briefs:
- Business investment in artificial intelligence has skyrocketed over the past year as AI agents added new fuel to market momentum, according to research published by Ernst & Young.
- Approximately 21% of business leaders surveyed say their organizations have invested more than $10 million in AI from 16% a year ago, with a third (35%) spending more than $10 million next year, according to Big Four's accounting firm.
- “We are tackling the tension between executives' adoration of AI's potential and the complexity of meaningfully integrating it into an organization,” said Dan Diasio, AI Leader at EY. “For leaders, the next thing to do is to combine AI with human ingenuity and the strength to innovate holistic innovation in reducing channel costs.”
Dive Insights:
AI agents are designed to perform workplace tasks with little human intervention, but by 2028, revenue rise and cost reductions in 14 countries, including the US, UK, France, Germany, Spain, Italy and Japan, can generate up to $450 billion in economic value.
Gartner forecasts at least 15% of daily work decisions made autonomously through Agent AI by 2028.
According to EY, about 34% of senior business leaders say their organizations are already beginning to implement agent AI technology. Common use cases include managing processes, enhancing customer support, increasing IT efficiency, and enhancing cybersecurity.
EY's study found that almost three-quarters of senior leaders (73%) believe that the entire business unit will one day be managed by Agent AI. Still, 87% of respondents said there are barriers to organizations' adoption of agent AI, including cybersecurity concerns, data privacy issues, and lack of regulations governing how technology is used.
EY voted for 500 US business leaders across a wide range of industries.
