Other key findings from RSM's middle market AI technology research include:

85% completely agree/somewhat agree that generative AI has impacted their organization more positively than expected.
77% report using generative AI solutions such as ChatGPT (82%), Microsoft Copilot (30%) and Adobe Firefly (24%).
74% have a budget dedicated to generative AI investments and 89% plan to increase their budget next fiscal year.
41% report being in the partial implementation phase for AI and 34% among those using generative AI.

Implementing and scaling AI technologies comes with a variety of challenges the middle market needs to navigate. These can include:

Data quality: Organizations must prioritize data quality management, ensuring accuracy and completeness through processes such as data cleansing and enrichment, supplemented by external data when required.
Skills gap: A lack of overall AI expertise within an organization can hinder the adoption process so investing in training is crucial to empower employees, accelerate implementation and drive business innovation.
Integration with existing systems: Incorporating generative AI solutions into existing processes and systems, like CRM or ERP, can pose complexity and requires detailed planning to guarantee seamless integration with the current infrastructure.
Ethical and legal considerations: Organizations must tackle AI-related issues by creating standards to ensure system transparency and accountability, and perform routine audits to prevent ethical, legal, regulatory or compliance risks.
Cost: The investment in hardware, software and personnel can be notable for the middle market so organizations need to consider the benefits such as increased efficiency, improved decision making and cost savings, against the expenses involved in its adoption.

Preliminary survey information can be found here.

AI Survey: Middle Market Recognizes AI Promise, But Sees Challenges to Implementation