Global AI Optimism Rankings Released: Embrace AI or Fall Behind, Warns New Report

Research from IFS has revealed the Global AI Optimism League Table. The global study Industrial AI: the new frontier for productivity, innovation and competition involved 1,700 senior decision makers from Manufacturing, Telecommunications, Aerospace & Defense, Services, Construction & Engineering, and Energy & Resources companies. It found that optimism about artificial intelligence (AI) is a direct indicator of AI strategy maturity within their business. The study found firms between $200-$500m the most optimistic about AI, while the UK and USA were the least optimistic countries. As UAE ranks 6th, the research implies that UAE is almost ahead than anticipated.

The IFS Global AI Optimism League Table by Country

The IFS Global AI Optimism League Table by Company Size

Global businesses face a narrow window of opportunity: the widespread adoption of AI is expected to profoundly impact growth, productivity and competition with repercussions for the balance of power among nations. The findings of this study serve as a wake-up call for businesses lagging in AI adoption, emphasizing the need for a clear AI strategy to stay competitive in the global market.

Cash isn’t always king

An easy assumption to make with AI is that the more financial resources available, the more optimism there would be about what could be done with AI. However, the research reveals that businesses with revenues of over $500 Million ranked only third in terms of optimism due to a clear polarization in strategy, data readiness, and skills. Indeed, the polarization in AI readiness has led to 25% of this group believing AI benefits will materialize within 12 months, while the laggards don’t expect to see benefits for at least three years. Large enterprises showed the widest gaps in time to benefits of any of the company size groups surveyed.

In contrast, the survey revealed mid-sized ($50-$200m) firms being less optimistic about AI purely because they have fewer resources and skills to deploy to the technology today, and therefore are planning over a longer period of time to drive benefits from a maturing technology.

Christian Pedersen, Chief Product Officer, IFS, commented: “At the surface level, the lack of optimism across some respondents may suggest we are at the edge of a trough of disillusionment, particularly following the all-encompassing hype that AI enjoyed for much of the last 18 months. What we are actually witnessing is enterprises differentiating themselves with AI. Organizations that have established a strong data foundation, invested in skills, and embedded sustainability into their strategy are optimistic because they can see the benefits coming into view quickly. It is vital that leaders see AI as a strategy, not a tool.”