companies expect to allocate an average of 3.32 percent of their revenue to AI, equivalent to $33.2 million annually for a $1 billion company. These investments will target areas including customer service, supply chain, talent acquisition, and marketing, reflecting the growing role of AI in driving innovation and efficiency across enterprises.

The report also emphasizes the need for workforce transformation, with 31 percent of employees requiring new skills to collaborate with AI within a year, increasing to 45 percent in three years. Notably, AI use in customer service is expected to grow by 236 percent within the next year, with human-AI collaboration playing a key role in these advancements. While 87 percent of executives claim to have governance frameworks for AI, only 25 percent have fully implemented oversight measures, indicating a need for stronger governance. According to a study, successful companies may view AI as a productivity boost to a key driver of organizational innovation. This requires governance and reskilling changes. Retailers should partner with startups and tech companies to align AI with brand goals. Breaking financial, tech, and business leader silos is essential. Working together, these stakeholders can create compelling business cases that demonstrate how AI can provide them with a long-term competitive edge. 

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