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LXT Unveils New Executive Survey The Path to AI Maturity
Fremont, CA: LXT, an emerging leader in global AI training data, today announced the findings of its first executive survey, The Path to AI Maturity. The new report highlights that investment in artificial intelligence is strong at mid-to-large US organizations and that 40% rate themselves at the three highest levels of AI maturity, having already achieved operational to transformative implementations. A key component to success across all organizations is AI training data in terms of both quality and investment.
"The strategic importance of artificial intelligence continues to grow, and companies are starting to see transformative business benefits - which is leading to the levels of investment revealed in the research findings," stated Mohammad Omar, LXT Founder and CEO. "We are seeing more and more companies reach a stage where AI is in production or has even become a part of their business DNA."
LXT, in collaboration with the research firm Reputation Leaders, commissioned a survey of 200 senior executives (two-thirds C-suite) with AI experience at mid-to-large US companies to examine the impact of AI investment across organizations of varying revenue levels and industries.
AI investment continues, and more than 40 percent of organizations have reached maturity.
According to the survey, more than a third of high-revenue companies spend between $51 and $100 million on AI, and seven out of ten organizations spend $1 million or more of their budget on AI. AI is being used by businesses to innovate, scale-up, and gain a competitive advantage, as well as to gain internal efficiencies.
Executives were asked to rank their companies on the Gartner AI Maturity Model as part of the survey. According to the findings, more than 40 percent of organizations have advanced to high levels of maturity, ranging from Operational to Transformational. To get there, a quarter of mature organizations spend $51 million or more on AI, compared to only 8% of experimenters