FleishmanHillard HighRoad for RSM Canada, fhr.rsm@FHhighroad.com, 416.508.8430
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FleishmanHillard HighRoad for RSM Canada, fhr.rsm@FHhighroad.com, 416.508.8430
for media use only
TORONTO, ON – (July 22, 2024) – Seventy-four per cent of midsize Canadian organizations are already adopting generative AI into their business operations, according to a new survey from RSM Canada LLP (“RSM”) – a leading global provider of assurance, tax and consulting services. However, the survey found that only 49 per cent of these companies have full or partial integration of AI technologies.
"Middle market companies are quickly grasping the potential of AI, which is poised to significantly impact how companies handle numerous critical functions in the years ahead," said Rhys Morgan, RSM Canada consulting leader. “Yet, businesses are also facing the challenges that come with integrating breakthrough technologies into their operations, leading many to face a shortage of experienced staff and a need for external assistance, particularly as AI-driven processes become increasingly vital for growth.”
A strong majority (84 per cent) indicated that generative AI has impacted their organization more positively than expected. However, 58 per cent said the technology has also been harder than expected to implement, and 76 per cent said they need outside help to get the most out of their generative AI solutions.
Other key findings of the survey include:
Implementing and scaling AI technologies comes with a variety of challenges the middle market needs to navigate. These can include:
Methodology
The survey – conducted by Big Village - included 510 respondents, with 407 in the United States and 103 in Canada. Qualification for survey participation required respondents to have at least some influence on decisions related to technology investments within their organization; most report working for companies with annual revenues of $10 million to $1 billion. The survey was conducted online from February 26 through March 4, 2024.
About RSM Canada
RSM is the leading provider of professional services to the middle market. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business landscape. Our purpose is to instill confidence in a world of change, empowering our clients and people to realize their full potential.
RSM Canada LLP provides public accounting services and is the Canadian member firm of RSM International, a global network of independent assurance, tax and consulting firms with 64,000 people in 120 countries. RSM Canada Consulting LP provides consulting services and is an affiliate of RSM US LLP, a member firm of RSM International. For more information visit rsmcanada.com, like us on Facebook, follow us on X and/or connect with us on LinkedIn.