A study by AI at Wharton and GBK Collective found that generative AI adoption has rapidly increased among American businesses, with weekly usage by leaders doubling from 37% to 72% in the past year. The research, which surveyed over 800 enterprise decision-makers, also revealed a 130% surge in AI spending since 2023, with more than 40% of companies now investing over $10 million in the technology.
The majority of the investment is going towards training, upskilling, hiring, and consulting services rather than the technology itself, according to Stefano Puntoni, co-director of AI at Wharton, reports VentureBeat. The study also found that smaller and mid-sized organizations are currently leading in AI adoption compared to larger companies, potentially leading to increased competition.