Study finds European firms are getting more out of AI than other markets (www.techradar.com)

A recent report from SAS has highlighted that small and medium-sized businesses (SMBs) in Europe are reaping greater returns on their AI investments compared to their counterparts in other regions. While North American SMBs excel in planning and development phases, their deployment of AI remains limited, whereas European firms have moved beyond experimentation to actual implementations. Despite this progress, a significant number of companies globally are still at early AI readiness stages, with 37% identified as 'experimental' and 33% as 'opportunistic'. Alarmingly, 90% of these organizations lack formal AI strategies, indicating a long road ahead for AI maturity. The report underscores that while European businesses show higher deployment rates, overall usage is still relatively low, with only 9% fully integrating AI into their operations. Common challenges include scattered data systems and disconnected AI tools, and 24% of leaders cite compliance and security as major barriers. SAS's SVP John Carey emphasized that organizations treating governance as a foundational element are better positioned to succeed. Additionally, the findings suggest that proactive preparation for regulations like the EU AI Act could enhance the ROI on AI, signaling a need for SMBs to strategically align their data and resources to optimize deployment.