AI adoption by US businesses continues to grow slowly, with large firms leading the charge, according to Goldman Sachs' latest quarterly AI Adoption Tracker.
The report comes against the backdrop of a surge in activity by the AI firms themselves, with OpenAI and Google competing to launch new products.
As of the fourth quarter, just 6.1% of firms use AI in production, up slightly from 5.9% in Q3. However, firms with 250 or more employees reported the highest adoption rate at 10%, expected to rise to 16% in the next six months.
While adoption lags in sectors like education and manufacturing, finance and insurance have seen notable increases.
Publishing and filmmaking firms anticipate the largest gains in AI integration by mid-2025. The report highlights a doubling of AI usage in small and mid-sized businesses over the past year, driven by applications in marketing and customer engagement.
Investment in AI-related technologies remains robust, especially in semiconductors, where revenue forecasts for 2025 have been upgraded by $187 billion. Despite these advances, firms cite challenges in cybersecurity, compliance, and identifying profitable use cases as barriers to broader implementation.
AI is already impacting the labour market, with 20% of IT job postings now AI-related.
Productivity gains from generative AI deployments are significant, averaging 30% in industries where the technology has been applied. “The promise of AI remains compelling, but businesses must overcome structural hurdles to realize its full potential,” Goldman Sachs analysts said.
The findings underline AI's transformative potential, albeit unevenly distributed across sectors and company sizes.