KPMG: Global Finance Adoption of AI Report

KPMG’s report shows that despite investments across a wide range of AI technologies, organizations are extracting the most value from machine learning, deep learning, and generative AI, and reporting ROI for these technologies that meet or exceed expectations.

AI deployments continue to grow, and next-generation AI is a key priority for the future

71% of organizations are using AI in their financial operations to some extent. Currently, 41% of businesses are using AI at a moderate or large scale, and this proportion is expected to rise to 83% in the next three years.

In just six months since the first wave of research, the spread of AI is already visible. In April 2024, 40% of organizations in the original 10 countries were using traditional AI in their finance operations to a moderate or great extent, a proportion that has increased to 45%.

The use of generative AI is also growing. The percentage of companies that do not plan to use next-generation AI has dropped from 6% to 1% today. Next-generation AI has become a key focus and priority for the future, with 95% of leaders and 39% of others expecting to adopt AI in financial reporting selectively or extensively in the next three years.

Global adoption

The research also highlights the extent to which AI is being used and actively explored in countries around the world, albeit with wide variations. Companies in the United States, Germany, and Japan are far ahead in AI adoption, but other major economies such as Italy and Spain are lagging behind. The same dichotomy is evident in emerging markets, with China and India leading in AI adoption, while Saudi Arabia and African countries lag far behind.

Across industries and sectors, the picture has evened out since the first wave of the study as organizations ramp up their efforts—most industries have similar percentages of leaders, though financial services leads (29%) and healthcare lags (16%). Companies with larger revenue scale tend to be more advanced.

​The document link will be shared to 199IT Knowledge Planet. Scan the QR code below to view it!