According to a new survey by Deloitte, nearly two-thirds (64%) of private companies with an annual revenue of $500 million or more have achieved moderate to significant return on investment (ROI) from AI initiatives. This marks a sharp contrast from smaller firms, where only 11% reported such levels of returns. The findings highlight how larger enterprises are gradually moving past the early stages of experimenting with artificial intelligence, with many now beginning to report measurable returns from their investments.
The survey reveals a significant shift in how private companies are approaching AI adoption. More than half (52%) of business leaders said that expanding AI use across their organizations is now a top-three priority for the next 12 months, a figure that has gone up significantly from 22% a year earlier. Additionally, 63% of respondents said their organizations are actively investing in digital transformation initiatives, including AI, compared with 33% that remain in limited or pilot stages. About 74% of higher revenue companies reportedly said they are expanding AI across select functions, compared with 38% of smaller firms.
The main business priorities driving AI deployment include revenue growth at 71% and improved productivity at 62% as companies look to automate complex workflows. Funding for these initiatives is largely coming from internal sources, with half of those surveyed saying budget reprioritization will be their primary funding method, followed by existing operating capital at 43%. The survey found that larger firms have been leading the charge in deployment, with 74% of higher revenue companies expanding AI across select functions compared to 38% of smaller firms.
Despite the progress, significant roadblocks still hinder full-scale implementation. Data quality and availability were cited as the biggest challenges by 72% of respondents, followed by gaps in AI skills and leadership at 53%, integration with legacy systems at 48%, and difficulty scaling projects beyond the pilot stage at 48%. The survey also found uneven oversight at the board level, with fewer respondents saying boards are proactive in monitoring the ethical use of AI or leadership readiness for digital transformation.
