US Companies Busy Adopting Generative AI to Avoid Falling Behind in Industrial Competition

"Investment Importance from an Innovation Perspective"

It has been revealed that American companies are increasingly adopting generative artificial intelligence (AI) out of fear of being left behind in terms of industrial competitiveness.

On the 24th (local time), The Wall Street Journal (WSJ) reported, "Companies across various industries are experimenting with generative AI to enhance employee productivity, communicate with customers, and improve financial forecasting," adding, "Although there is a risk of deteriorating return on investment (ROI), it appears that no company wants to fall behind in the competition."

According to a survey conducted by global accounting and consulting firm KPMG on the 22nd targeting 220 U.S.-based companies with annual revenues exceeding $1 billion, 43% of them plan to invest at least $100 million in generative AI development over the next 12 months.

Smartphone manufacturer Motorola is piloting the use of generative AI to summarize inter-industry contracts and assist software developers in drafting code.

Shared lodging platform Airbnb is utilizing generative AI to automatically identify room types, views, amenities, and more from millions of accommodation photos to help guests find their desired lodging.

Fintech company Intuit is reportedly using generative AI across its product lines to answer customer inquiries and generate invoice reminders.

Software company Autodesk is exploring ways for its finance team to utilize generative AI. Autodesk Chief Financial Officer (CFO) Debi Clifford forecasted, "If some finance-related processes can be automated, it could reduce employment costs in the long term."

Recently, network equipment company Cisco attracted attention by acquiring big data platform company Splunk for $28 billion. Cisco aims to make tools easier to use for customers without knowledge of security software.

Todd Lohr, U.S. Technology Consulting Leader at KPMG, noted, "Although we do not yet fully understand all the benefits of generative AI, it is necessary to invest in it from the perspective of corporate innovation."