A new report from Cisco reveals a widening gap between the urgency to implement artificial intelligence (AI) and organisations’ readiness to harness its potential. The 2024 AI Readiness Index, based on a survey of nearly 8,000 senior business leaders across 30 markets, found that while 98% of companies feel pressure to deploy AI quickly, only 13% are fully prepared to use it effectively—a slight decline from 14% last year.
As outlined in Cisco’s AI Readiness Index, 85% of respondents believe they have less than 18 months to act before falling behind competitors. However, many report challenges in realising returns on investment. Almost half of companies surveyed said their AI initiatives have failed to meet expectations in areas like process automation and operational efficiency.
The report categorises organisations into four levels of AI readiness: Pacesetters (fully prepared), Chasers (moderately prepared), Followers (limited readiness), and Laggards (unprepared). This year’s findings show a smaller proportion of Pacesetters, suggesting a decline in the number of businesses leading AI adoption.
In the UK, only 10% of businesses qualify as Pacesetters, while the majority—51%—fall into the Followers category. These results reflect a global trend of organisations struggling to align infrastructure, governance, and metrics with their AI ambitions.
The report highlights the need for companies to develop clear AI strategies, invest in scalable infrastructure, and establish measurable outcomes to assess the impact of their initiatives. Without addressing these challenges, businesses risk falling behind in an increasingly AI-driven landscape.
