Four ways to unleash your game-changingAI and machine learning potential. Table of Contents Introduction AI and ML: The Current-State Landscape4 Four Ways to Unleash theGame-Changing Potential of AI and ML Takeaways: AI and ML Are theUltimate Power-Up22 About Our Research 23 AI Pioneers: AI AdoptionIndex Methodology25 Definitions of Terms in Our Research Introduction. “Remember what it felt likein the very early days of theinternet? It may have feltlike it was [just] a technology,and you might have been in Remember when they said theinternet was a fad? In May 2023, scientists in the U.S. and Canada heralded the discovery of anew antibiotic capable of killing a deadly superbug.1Their secret weapon? AI. This was just one of a growing number of breakthroughs powered by AI andmachine learning (ML). Other notable breakthroughs in generative AI have Thanks largely to these high-profile advances, a lot has been written abouthow AI might negatively impact employment.2But what if it created aworkplace in which an employee returns from vacation and this technologysums up what they need to address most urgently? Or what if AI enabled Ajay AgrawalProfessor, Rotman Schoolof Management, Universityof Toronto Some of these advancements are already happening. But now we needto make sure we understand exactly how to use and expand these Workday has conducted a global survey of 2,355 senior businessexecutives to unpack the impact of this digital revolution across theenterprise—and AI in particular—on HR, finance and procurement, and theoffice of the CEO. The survey found that 71% of business leaders expect AI More from this expert. Our research shows that 98% of CEOs* say there would be someimmediate business benefit within their organization from implementingAI, and 3 in 5 businesses are adopting AI and ML in some way. However, only1% would classify their adoption as mature,3and 1 in 4 want to wait to see But these technologies are evolving fast, so business leaders can’t affordto stand still. The implications could mean that the competition racesahead and leaves these businesses behind. What’s more, with CEOs AI and ML: Thecurrent-state landscape. Business leaders are optimisticabout the impact of AI and ML. Business leaders are excited about what AI and ML could do for theirorganizations—especially operational efficiency, better decision-making,and competitive advantage. Among these leaders,71% expect these Business leaders don’t feel readyand are concerned about securityand privacy. 3 in 5 Just one-fifth of organizations (20%) have digitized the majority of theirinternal operations—a sign that they are ready and able to quicklyembrace change, while the remaining 80% may find it more challenging.Andnearly half of CEOs (49%) say their organization is unprepared to businesses are adopting AI andML in some way—although only1% of those surveyed would Pioneering businesses embraceAI and ML as catalysts forbusiness change. When it comes to AI and ML adoption, some businesses are leading theway. However,increased demands across the enterpriseset the stage for of AI Pioneersagree AI and MLwill improve theirorganization’ssustainability of CEOs say therewould be someimmediate businessbenefit from theimplementation of AIand ML, yet 49% saytheir organization is of business leadersbelieve that AIand ML will havean impact on theglobal business Meet the AI Pioneers. Throughout this report, we will define the group of organizations that havegone further with AI as AI Pioneers. Half of AI Pioneers have digitized themajority of their internal operations. And their business functions arefurther ahead in AI and ML adoption: the proportions that are scaling AI orare at maturity are 47% of HR teams, 31% of finance teams, and 29% of ITteams. This is compared to the overall sample size with 19% of HR teams, Our research finds that AI Pioneers are harnessing AI and ML in the Data and tools.AI Pioneers are better at making data accessibleto everyone within the business who needs it. Employee productivity.AI Pioneers are using AI and ML more toimprove ways of working and enable employees to add more Human skills and machine capabilities.AI Pioneers say that AIand ML will significantly augment people’s skills in parallel with Organizational culture.AI Pioneers are particularly optimisticabout what AI and ML can do for sustainability and diversity, Find out more about AI Pioneers onpage 15. Business leaders are optimisticabout the impact of AI and ML. Other sources of pressure toaccelerate AI adoption include: •Improved data-drivendecision-making•Competitive market landscape Digitally transform to benefit from AI. AI and ML technologies are now capable of so much that they have thepotential to revolutionize the way businesses operate and innovate.But companies still have a lot to do, and need to evaluate their “digital Half (49%) of the businesses we surveyed now accept that digitallyderived revenue strea