Sheryl L. Bredeson’s Post

Most business leaders are stuck in "efficiency mode" when it comes to artificial intelligence. They are using the technology to cut costs and automate tasks, but they are missing where AI really fits in well. An EY-Parthenon survey of corporate growth executives found that 63% are successfully using AI tools for quick productivity and efficiency gains. However, only 14% are leveraging it to stay ahead of competitors, a tiny 8% are using it to reach new customers, and only 7% use it to expand revenue streams. That's a big gap. While 78% of leaders expect AI to accelerate their overall growth, only 34% actually trust the technology to support critical, growth-related decision-making. Why are companies so slow to innovate here? According to the data, the leading bottlenecks are: ➤ Risk and compliance challenges (35%) ➤ Legacy technology and outdated infrastructure (34%) ➤ Market and economic uncertainty (28%) ➤ A fundamental lack of the internal skillsets needed to manage it (26%) With 80% of executives stating that the modern environment for business growth is tougher than it was a year ago, the traditional three-year growth plan is fading fast. To stay in front of the tech wave, companies will need to move beyond using AI as a basic automated typewriter. You need to close the skills gap, align your leadership, and start using data-driven tools to find new markets and hyper-personalize your business model. It's not easy as many companies have found they overcorrected implementing AI. Find a trusted partner who can analyze your business and recommend the safest, highest ROI places to start. The best stance to take right now is "hurry up and be careful". CFO #BusinessGrowth #AIStrategy #InnovationLeadership #KandorGroup