Nearly 90 Percent of Businesses Think Agentic AI Can Make Them More Competitive: KPMG Survey
A recent survey by KPMG in Canada has revealed a striking trend: 88% of business leaders believe that adopting agentic AI will make their organizations more competitive. This finding underscores the growing belief that autonomous AI systems are poised to transform the Canadian business landscape.
Agentic AI, a term gaining traction in tech and business circles, refers to autonomous systems capable of operating independently. These systems leverage advanced technologies like large language models to perform tasks with minimal human intervention. From answering customer queries to managing complex operations, agentic AI is being touted as a game-changer.
The survey highlights a strong consensus among business leaders about the strategic importance of agentic AI. A whopping 86% of respondents consider investment in these systems a top priority for their organizational strategy. This enthusiasm suggests that agentic AI is no longer seen as a niche technology but as a critical tool for driving modernization and gaining a competitive edge.
So, where do businesses plan to deploy agentic AI? Customer service, cybersecurity, and compliance management top the list, with 38%, 30%, and 29% of respondents respectively. These areas are not just operationally critical but also align with the broader goals of enhancing efficiency and reducing costs.
The anticipated benefits of agentic AI are significant. Over half of the surveyed leaders expect faster and better access to information, while 51% believe it will improve decision-making. Increased productivity is another key expectation, with 45% of respondents citing it as a major advantage.
Despite the optimism, challenges remain. Cybersecurity and data privacy concerns top the list, with 47% of respondents highlighting these as major barriers. Data quality and implementation costs are also significant worries, underscoring the complexities of integrating agentic AI into existing systems.
As organizations move forward, the survey paints a clear picture: agentic AI is not just a buzzword but a strategic imperative. With nearly nine out of ten business leaders seeing it as a critical investment, the race to adopt autonomous AI systems is well and truly underway.
Agentic AI: A Strategic Imperative for Canadian Businesses
As highlighted in KPMG’s survey, 86% of business leaders view investment in agentic AI as a top priority, emphasizing its role as a critical tool for driving modernization and competitive advantage. This sentiment reflects a broader recognition of agentic AI’s potential to revolutionize operational frameworks across various industries.
While customer service, cybersecurity, and compliance management are leading the charge in agentic AI adoption, other key areas are emerging. Communications and accounting are also on the radar, with 24% and 23% of respondents planning to implement AI agents in these domains. These applications are expected to enhance efficiency, reduce operational costs, and address skill gaps within organizations.
The survey underscores the transformative potential of agentic AI in streamlining operations and improving customer service. By automating tasks such as order processing and shipment tracking, businesses can allocate more resources to strategic initiatives, fostering innovation and growth.
Despite the enthusiasm, challenges persist. Cybersecurity and data privacy concerns are paramount, with 47% of respondents highlighting these as major barriers. The increasing prominence of autonomous systems as targets for cyber threats has intensified these worries. Additionally, ensuring high data quality and managing implementation costs are critical considerations for organizations navigating the integration of agentic AI.
Workforce preparation is another crucial factor. As AI agents become more prevalent, organizations must equip their employees with the skills needed to interact effectively with these systems. This includes training programs focused on understanding AI capabilities and limitations, as well as fostering collaboration between human workers and AI agents.
KPMG’s survey illustrates that agentic AI is not merely a technological trend but a strategic necessity for Canadian businesses. With nearly 90% of leaders recognizing its critical role in competitiveness, the adoption of agentic AI is set to reshape the business landscape, driving efficiency and innovation across industries.
Conclusion
Agentic AI represents a transformative opportunity for Canadian businesses, enabling them to drive operational efficiency, enhance customer service, and maintain a competitive edge. As highlighted by KPMG’s survey, 86% of business leaders view agentic AI as a top priority, underscoring its strategic importance in modernizing business operations. While challenges such as cybersecurity, data privacy, and workforce preparation remain, the potential benefits of agentic AI—ranging from cost reduction to addressing skill gaps—make it a critical tool for future success. As Canadian businesses navigate this digital evolution, embracing agentic AI is not just an option but a necessity to thrive in an increasingly competitive landscape.
Frequently Asked Questions
What is agentic AI?
Agentic AI refers to autonomous systems capable of performing tasks that typically require human intelligence, such as decision-making, problem-solving, and learning. These AI agents can operate independently or collaboratively to enhance efficiency and innovation across various industries.
What are the key benefits of agentic AI for businesses?
The key benefits of agentic AI include enhanced efficiency, reduced operational costs, improved customer service, and the ability to address skill gaps within organizations. It also enables businesses to allocate more resources to strategic initiatives, fostering innovation and growth.
Which industries are most likely to adopt agentic AI?
Customer service, cybersecurity, and compliance management are leading the adoption of agentic AI. However, industries such as communications and accounting are also increasingly implementing AI agents to streamline operations and improve efficiency.
What are the main challenges of implementing agentic AI?
The main challenges include cybersecurity and data privacy concerns, ensuring high data quality, and managing implementation costs. Additionally, preparing the workforce to collaborate effectively with AI agents is a critical consideration for organizations.
Why is agentic AI important for Canadian businesses?
Agentic AI is important for Canadian businesses as it enables them to remain competitive in a rapidly evolving digital landscape. With nearly 90% of business leaders recognizing its critical role in driving competitiveness, agentic AI is poised to reshape the business landscape, fostering efficiency and innovation across industries.
