Are Over Half of Major U.S. Companies Moving Away from AI? Insights on Corporate Sentiment Towards Artificial Intelligence

Recently, the Financial Times reported that over half of major U.S. corporations view artificial intelligence (AI) as a potential risk to their businesses. Specifically, 56% of Fortune 500 companies identified AI as a "risk factor" in their annual reports, marking a significant increase from 2022.

The rapid advancement of AI technology is reshaping competitive dynamics in the market. Many businesses are concerned that without effective utilization of AI, they may fall behind their competitors. For example, streaming companies like Netflix worry that rivals deploying AI could gain a competitive edge, impacting their market position and performance. Additionally, there are widespread fears that the implementation of AI could trigger various social and ethical challenges. Telecommunications firms, such as Motorola, indicated that AI datasets might be inadequate or contain harmful information, which can adversely affect their profitability and reputation. Moreover, companies express concern that an over-reliance on AI could centralize risks; if an AI system fails or is compromised, it could disrupt entire business operations, potentially leading to paralysis.

Despite these concerns, some companies view AI as an opportunity. According to the Financial Times, these organizations highlighted potential benefits in their annual reports, which include cost reductions, operational efficiencies, and accelerated innovation. For instance, Quest Diagnostics, a leading independent medical laboratory in the U.S., stated that generative AI is enhancing customer service, sample processing, and claims analysis. The American advertising firm IPG noted that AI is adding intelligence to content creation across the marketing field.

Data indicates that the global AI industry reached $513.2 billion in 2023, reflecting a 20.7% increase year-over-year, thereby injecting new momentum into economic and social development. As of the first quarter of 2024, there are nearly 30,000 core AI enterprises worldwide.