Boomi: Executives Want to Use AI, But Don't Very Much

The vast majority of companies are in the early stages of AI implementation but very few are using the tools beyond pilot programs, according to new survey data of C-suite executives.

Intelligent integration and automation provider Boomi released its "Playbook for Crafting AI Strategy" on Tuesday in partnership with the MIT Technology Review. The playbook, which includes a survey of 205 executives asking about AI implementation, found that 95% of those surveyed are using AI in some form within their company. The majority (76%) have only used AI in one to three use cases. Almost all (98%) respondents did say that they're not rushing to be the first to use AI. They want to ensure it is safe and that it can be delivered securely to consumers.

Boomi's Matt McLarty

“The biggest factor holding back AI implementation is not knowing where to start,” said Matt McLarty, Boomi CTO. “You don’t actually have to be an expert on how to create generative AI in order to get value from generative AI. As organizations seek to harness AI's transformative potential, our report serves as a crucial playbook, guiding business leaders through the complexities of AI strategy formulation.”

AI spending in 2022 and 2023 didn't change very much. Only one in four respondents said that they increased their spending on AI by more than a quarter. Nearly nine in 10 said they intend to spend significant amounts of investment on upgrading their company's AI investments.

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One of the biggest barriers facing a lot of these executives is how strong their data is. One-half cited data quality as the most limiting data issue that they faced during deployment.

Boomi's remarks were released a few days after the stock market faced concerns about an "AI bubble," with investors questioning whether Big Tech's decision to invest into AI development was as useful or profitable as the companies had claimed.