Canadian firms seeing operational gains from GenAI, finds RSM survey

Eighty-four percent of Canadian firms that have adopted generative artificial intelligence (GenAI) are already seeing positive returns, according to a recent RSM Canada report. The accounting and consulting firm surveyed 103 executives at mid-market Canadian companies in February and March.

Three-quarters (74%) of companies said they have adopted GenAI into their operations, with 84% reporting better-than-expected results. However, 58% said the technology is harder-than-expected to implement, with 76% saying they need outside help to maximize the effectiveness of AI solutions.

Of the companies that have adopted GenAI tools, 61% are using it to automate tasks, 51% are using it for customer service, and 46% are using it to boost employee productivity and creativity.

The most popular solutions are ChatGPT (75%), Microsoft Copilot (34%), and Google Bard/Duet (20%).

Despite widespread adoption, only 14% of Canadian firms reported full integration of GenAI across core operations and workflows and 35% reported partial integration.

The RSM report says scaling AI tech comes with a variety of challenges. Data quality management is one paint point, requiring accuracy and completeness via processes such as data cleansing and enrichment.

A lack of AI-skilled employees can also hinder the adoption process.

Companies also face challenges in integrating GenAI tools into existing CRM or ERP systems – which can be fairly complex and requires detailed planning.

On the regulatory front, companies must create standards that ensure transparency and accountability, as well as perform routine audits to prevent ethical and compliance lapses.

Companies also need to make sure the sizable investments in hardware, software, personnel, and consultants have a defensible business case – with realistic estimates for gains in efficiency and cost savings.