KPMG Survey: 68% Of Execs Plan To Funnel Up To $250 Million Into AI In The Next Year
With responses from 100 U.S.-based C-suite leaders at companies earning $1 billion or more in annual revenue, the KPMG’s Quarterly Pulse Survey findings closely mirror other market research reports.
A majority of senior executives across multiple industries expect artificial intelligence to fundamentally reshape their businesses in the next 12 to 24 months, according to KPMG’s latest AI Quarterly Pulse Survey. The report found that 56% of leaders anticipate significant transformation within the next year alone, jumping to 67% within two years—underscoring the swift pace at which AI is evolving from a strategic discussion into an operational transformation imperative.
According to the survey, 68% of executives plan to invest between $50 million and $250 million into Generative AI over the next 12 months, marking a substantial increase from 45% in Q1 of 2024. Business leaders seem to be moving from pilot programs to major budget allocations, with half of them already scaling their GenAI initiatives, up from just 10% half a year ago. This surge in investment signals a recognition amongst business leaders that AI is no longer a niche, technical concept but a near-term requirement for staying competitive.
For example, Deloitte’s “State of AI in the Enterprise” survey also underscores how C-level enthusiasm has led to notable AI budgets, even amid economic uncertainties.
Similarly, a recent survey of executives from the Boston Consulting Group and insights from researchers at Stanford’s Human-Centered AI have both produced results highlighting the increased acceleration and investment in AI-powered business transformation. These studies and surveys highlight the growing expectation that AI will soon become indispensable across multiple business functions.
Top Challenges: Data Quality and Economic Volatility
While organizations are bullish about AI’s potential, 88% cite macroeconomic pressures as a key factor influencing their AI strategies, both now and for the foreseeable future. Another significant hurdle is the integrity of organizational data itself, with 85% of respondents naming data quality as the biggest challenge on the horizon, followed by data privacy, cybersecurity, and employee adoption. This concern underscores how AI success hinges not only on sophisticated algorithms but also on high-quality, well-governed data.
More on KPMG AI Quarterly Pulse spending survey on Forbes
Fireworks AI CEO Lin Qiao On Why It's No Longer A Single "Best Model" Race
Fireworks AI CEO Lin Qiao previously led the PyTorch team at Meta. She sat down with The Stack to discuss the future of generative AI and why CTOs shouldn't be fixated on the best big model ...
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Meta's Chief AI Executive: DeepSeek's Success Shows Value Of Open Source
Silicon Valley was on edge this week after DeepSeek, a Chinese AI company, released its R1 model. In third-party benchmarks, it outperformed leading American AI companies like OpenAI, Meta, and Anthropic.
For Meta's chief AI scientist, Yann LeCun, the biggest takeaway from DeepSeek's success was not the heightened threat posed by Chinese competition but the value of keeping AI models open source so that anyone can benefit. It's not that China's AI is "surpassing the US," but rather that "open source models are surpassing proprietary ones," LeCun said in a post on Threads.
DeepSeek's R1 is itself open source, as is Meta's Llama. OpenAI, which was originally founded as an open-source AI company with a mission to create technology that benefits all of humanity, has on the other hand more recently shifted to closed-source.
LeCun said DeepSeek has "profited from open research and open source."
"They came up with new ideas and built them on top of other people's work. Because their work is published and open source, everyone can profit from it," LeCun said. "That is the power of open research and open source."
More on Yann LeCun’s perspective on Open Source AI
A Conversation With Ray Dalio: AI, Systems Thinking, And The Human Connection | AI House Davos 2025
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Startup Rad AI Has Raised $60 Million In Funding From Transformation Capital …
Hot healthcare startup Rad AI has raised a Series C funding round, Business Insider has learned from multiple sources. The company, which creates AI-powered tools for radiologists, grabbed fresh funding in a Series C round led by Transformation Capital, according to two people with knowledge of the round. Those people said the new fundraise valued Rad AI at $525 million.
Rad AI brought in about $60 million in the round, per one person with knowledge of the efforts. Rad AI did not officially respond to requests for comment. Transformation Capital declined to comment. Transformation Capital preempted the Series C funding, two of the sources familiar with the deal said. It comes on the heels of Rad AI's Series B, a $50 million fundraise led by Khosla Ventures and announced in May 2024, just seven months prior to this latest round.
Founded in 2018, Rad AI has seized on a wave of interest in healthcare tech that uses generative AI to make providers more efficient and reduce burnout.
While many startups in the radiology tech market are going after imaging — using AI to flag potential abnormalities in a scan, for example — Rad AI assists clinicians with more routine tasks, including automatically generating radiology reports and automating patient follow-ups.
More on Rad AI’s fundraising efforts on Business Insider
Dawn Of Artificial General Intelligence?
Artificial general intelligence could possess the versatility to reason, learn and innovate in any task. But with rising concerns about job losses, surveillance and deepfakes, will AGI be a force for progress or a threat to the very fabric of humanity? This distinguished panel session of AI expertise was developed in collaboration with The Atlantic at the annual World Economic Forum in Davos, Switzerland.
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Google Pushes Global Agenda To Educate Workers, Lawmakers On AI
Alphabet’s Google, already facing an unprecedented regulatory onslaught, is looking to shape public perception and policies on artificial intelligence ahead of a global wave of AI regulation. A key priority, one executive told Reuters, comes in building out educational programs to train the workforce on AI.
“Getting more people and organizations, including governments, familiar with AI and using AI tools, makes for better AI policy and opens up new opportunities – it's a virtuous cycle,” said Kent Walker, Alphabet's president of global affairs.
As Google races to best Big Tech rivals including Microsoft-backed OpenAI and Meta in the AI arena, it is mindful of the heavy regulatory scrutiny it faces in its existing businesses in advertising and search. In the European Union, Google has offered to sell a part of its ad tech business to appease regulators, Reuters reported. In the U.S., the Justice Department is attempting to force a breakup of its Chrome Web browser — though it may shift course under the administration of President Donald Trump.
Meanwhile, governments globally are drafting new regulations on issues that could be exacerbated by AI, such as copyright and privacy. The EU AI Act, which seeks to assess risk and require disclosures from general-purpose AI systems, has received pushback from tech giants that could find themselves in the crosshairs of multibillion-dollar fines.
The DOJ has also sought to curtail Google’s advances in AI as a remedy in a federal case that found its search business to be an illegal monopoly. Google executives see an opportunity to shape the narrative around a technology that has stoked emerging fears of mass job loss.
More on Google’s Artificial Intelligence push on Reuters
AI In 2025: The "New Electricity" Could Create Huge Economic Growth | GZERO
Artificial intelligence is no longer a distant vision of the future—it’s here, and it’s transforming the way we live, work, and innovate. At the 2025 World Economic Forum in Davos, Switzerland, our Global Stage panel brought together some of the world’s brightest minds to discuss the profound impact AI could have on global growth, society, and infrastructure.
Our thought-provoking panel discussion, moderated by Becky Anderson, Anchor & Managing Editor of CNN Abu Dhabi, featured Ian Bremmer, President and Founder of Eurasia Group and GZERO Media; Nadia Calviño, President of the European Investment Bank; Ngozi Okonjo-Iweala, Director General of the WTO; Brad Smith, Vice Chair and President of Microsoft; and Peng Xiao, CEO of G42.
They shared unique insights into the opportunities and challenges of the AI revolution. We’ve entered a new phase of the AI conversation, moving beyond debates over whether it will save or destroy humanity. Instead, the focus has shifted to the ways this powerful technology, when used correctly and ethically, can enhance human life.
From revolutionizing healthcare and expediting scientific breakthroughs to creating infrastructure investment opportunities, AI holds the potential to contribute up to $20 trillion to global GDP over the next five years. Geopolitical competition is also heating up. While the US-China rivalry dominates headlines, the Middle East—particularly the UAE—is emerging as a significant player in the AI space with increasing investments and innovations.
As Microsoft's Brad Smith noted during the expert panel discussion, AI could become as essential as electricity. However, ensuring its benefits are equitably shared across all societies is vital. Achieving this requires collaboration between governments, multilateral organizations, and private sector leaders. Watch the full discussion now for our panel's insights on AI's future, and how it is expected to transform our economy society by 2030.
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