Business leaders increasingly see AI as one of their top imperatives rather than just an experimental curiosity – and it has become an equalizer for smaller companies. That is according to a study from Eden McCallum, which surveyed over 300 business leaders from the UK, the Netherlands, and the US.
The survey confirms that the impact of generative AI is being felt across a wide array of organizations, with leaders understanding potential for growth. While many companies have yet to see full commercial benefits, there is a strong sense of confidence in the value that AI technology will provide in the years ahead.
A total of 32% of respondents already see a significant or very significant impact on their operations. Overall sentiment remains high, as almost 60% of business leaders report that this impact has been positive. Interestingly, the level of optimism varies by region; 68% of leaders in the Netherlands view the changes as positive, compared to only 50% of their counterparts in the United States.
Looking further ahead, the expectations for the technology grow even more substantial. While about one third of businesses see a major impact today, 79% believe AI will have a significant impact within the next one to three years.
This shift represents a stronger vote of confidence than what was recorded in similar surveys two years ago. On a broader scale, about 65% of organizations globally are now using generative AI regularly, which is double the number seen in previous years.
The shift to strategic data
The focus for many leaders has shifted toward the practical requirements of making these tools work. For 39% of businesses, optimizing data has become the most important internal issue, surpassing traditional concerns like talent acquisition or cost reduction. This focus on infrastructure aligns with a global market that is expected to continue growing (if it is able to overcome various challenges).
Currently, two thirds of businesses are exploring and experimenting with various use cases, while half are training their staff to handle new tools. The intensity of this activity is increasing: The average company now takes four distinct actions regarding AI, compared to only 2.4 actions in 2023.
This experimentation is most common in marketing and customer service, where 40% of respondents are piloting new systems. From chatbots and automated FAQ to development teams using LLMs to write code, these tools are only becoming stronger over time and have already changed the game in several business functions.
Realized gains and revenue hurdles
Despite the high level of AI adoption, the financial rewards are still emerging. Half of the surveyed leaders say they have generated value through cost reduction, and about one third report better decision-making and improved customer experiences.
In fact, the Eden McCallum survey found only 10% of businesses have seen a direct impact on their revenue so far. This reflects a wider industry trend where many projects remain in the pilot phase while companies work through challenges such as data security and regulation, which 41% of professionals cite as top concerns.
The great equalizer for small firms
The study highlights that smaller businesses are often the most positive about the potential for AI. Many small enterprise leaders view the technology as an equalizer that allows them to compete with much larger rivals.
By automating repetitive tasks and providing high-level analysis, these tools allow smaller players to operate with the same efficiency as more established, larger companies. This uptick in ‘unstructured’ AI in smaller companies is estimated to have already increased labor productivity by as much as 1.3% since the public release of major consumer LLM platforms like ChatGPT or Google’s Gemini.
As businesses move from experimentation to full integration, the focus is likely to remain on refining data and expanding these tools into more use cases. Without good data, most automation tools are either ineffective or, in the worst case scenario, can even produce inaccurate results.
“While it has moved to the top of the agenda, and a great deal of activity is taking place, actual impact so far is somewhat limited,” said Dena McCallum, co-founder of Eden McCallum.
“But the sense of potential is clear: There is no doubt this will be a game-changer on both efficiency and effectiveness across business functions and activities. It will be interesting to see where and how generative AI may level the playing field between small and large firms.”