Enterprises are ready and willing to adopt AI agents, but trust issues remain

75% of IT decision-makers said AI is a high priority, and almost half are already adopting AI agents

Adoption of artificial intelligence in the enterprise is growing quickly: the market size for enterprise AI was estimated to be $7.02 billion in 2022 and is projected to grow at a CAGR of 44.1%, reaching around $270.06 billion by 2032. Already 65% of global enterprises have already implemented AI in some form. 

There are different kinds of AI, however; most people are likely familiar with generative AI, which focuses on creating new content, such as text, images, videos, or music. Then there's agentic AI, which refers to systems that can act independently to achieve goals, often with limited human supervision. 

On Wednesday, Forum Ventures, an early-stage B2B SaaS fund, accelerator, and venture studio, released a new report, entitled 2024: The Rise of Agentic AI in the Enterprise, where it surveyed 100 senior IT decision-makers across the U.S., and interviewed what it calls "leading figures in AI agent innovation and investment," to find out how they feel about agentic AI and its implementation. 

"The rise of agentic AI marks a pivotal shift in enterprise technology, offering unprecedented opportunities for automation, efficiency, and innovation. Defined as LLM-powered systems capable of reasoning and executing complex tasks without human intervention, AI agents are set to transform business operations across industries," the firm wrote in its report.

"While venture capital investment in agentic AI has surged, true impact and advancement will only come with widespread adoption at the enterprise level."

In the report, the firm found that AI is a high or very high priority at the vast majority of enterprises, with 46% labeling it as "high priority" meaning a longer-term vision of over three years to achieve enterprise-wide AI, while 28% labeled it a "very high priority," which means the same in one to three years. Only 8% of those surveyed said it was a low priority.

The survey also found that nearly half, 48%, of surveyed enterprises are beginning to adopt AI agents, with another 33% actively exploring solutions, while over half are open to engaging with startups for AI agent solutions. Only 4% said there were not prepared at all to adopt AI agents. 

When it comes to deciding on AI solutions, 63% of executives reported using a hybrid approach, which combines in-house AI models with third-party solutions, as a way to retain control and leverage external innovation.

Of course, even with the high enthusiasm and preparedness for adopting and implementing AI agents, there are obstacles that come into play when it comes to the adoption of any type of technology. For agentic AI, which is meant to automate enterprise operations, the key issue is trust, specifically, concerns over data accuracy and privacy, along with the overall performance of AI agents.

Trust concerns were identified by 55% of survey respondents, and that broke down into 13% being concerned about data privacy, while the same percentage worried about performance and reliability. Another 12% said there were too many unknowns, while 8% cited accuracy, efficacy, and appropriateness. A smaller number, just 5%, pointed to ethical issues, while a mere 4% worried about industry regulations and legal standards.

"Our report uncovers the nuanced landscape of agentic AI and the enterprise, highlighting both the enthusiasm for its transformative potential and the caution that enterprises are exercising in its implementation," Michael Cardamone, CEO and Managing Partner at Forum Ventures, said in a statement. 

"The real challenge is understanding the specific opportunities for AI agents in the enterprise and finding the right edge." 

(Image source: ainiro.io)