![]() ![]() But while a majority of companies (61%) have invested in AI, far fewer (45%) have managed to translate this into business impact. “Ready” companies are using AI to rapidly expand innovation possibilities.This year, in stark contrast, 79% of companies see innovation as a top three priority, and 66% plan to increase spending-42% by more than 10%. During the last recession (2009), less than two-thirds of companies ranked innovation as a top-three priority and only 58% planned to increase spending.Innovation-ready leaders (those that are ready to develop product, process, and business model innovations that can deliver sustainable impact) are pulling ahead by using innovation to build their resilience to economic uncertainty and fuel their pursuit of lower emissions.Some notable takeaways from this year’s report include: The laggards struggle to make real headway. Leaders at those firms are consistently delivering new products, entering new markets, and establishing new revenue streams. Technology, Media, and TelecommunicationsĬompanies that prioritize innovation and make sure they are ready to act are widening the gap over less capable competitors.
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