New KPMG report claims firms are "racing" to deploy AI (www.techradar.com)

A new report from KPMG reveals that 93% of US companies plan to deploy or scale AI in finance within the next 18 months, with half intending to implement complex multi-agent systems. This widespread adoption is encouraging, as 74% of firms have met or exceeded their ROI expectations. However, challenges remain, particularly in defining clear, role-specific use cases and fostering organizational change. KPMG emphasizes the need for enhanced practical training and targeted upskilling to advance AI strategies effectively. The report also highlights significant concerns about data security and privacy, with 60% of finance leaders citing these issues as barriers to AI deployment. As companies aim to transition from reactive to predictive finance functions—integrating AI capabilities like predictive decision-making—focusing on security protocols is crucial to bolster trust and mitigate risks. KPMG's findings underline that while AI technology itself performs well, the strategic implementation and management of AI initiatives require more attention to achieve full potential and drive sustainable returns in the finance sector.