Business growth has always relied on optimizing processes, with the end goal of ultimately reimagining and reinventing them in new forms.
Traditionally, this took decades of compounding small changes. But the emergence of enterprise artificial intelligence (AI) has upended this paradigm, allowing firms to integrate and stand up agile software solutions in previously unattainable timeframes.
As a result, enterprise AI is evolving rapidly as businesses seek smarter, more secure and customizable solutions to power their operations. Competition among AI providers is proving to be fierce, with OpenAI, Google and Anthropic emerging as key players vying for enterprise dominance.
For example, during recent fundraising talks for a new $2 billion round valuing the startup at $60 billion, Anthropic’s leadership has reportedly been aggressively making the sales pitch that its AI model, Claude, is better for business customers interested in building tailored models.
For its own part, OpenAI’s CEO Sam Altman has alleged that businesses are using the ChatGPT Pro product so much that his company is actually losing money on its $200-per-month Pro subscriptions.
Outside of Google’s own Gemini AI push for enterprises, the tech giant is also investing in business-process-specific providers, injecting $4 million into Fazeshift, an accounts receivable AI agent, on Tuesday (Jan. 7).
AI’s capacity to process vast amounts of data, learn dynamically, and adapt to shifting demands presents opportunities not only to optimize processes but to reshape their trajectory and impact.
See also: AI’s Growing Role Across B2B Payments Will Be Impossible to Ignore in 2025
From automating routine tasks to enhancing decision-making through predictive analytics, the demand for enterprise AI solutions is skyrocketing. However, corporate buyers are discerning, prioritizing factors such as integration capabilities, data security, and the ability to customize models to fit their unique needs. These priorities are shaping the AI market.
In an era when tech stacks are becoming more complex, seamless integration is a top priority for enterprise buyers. The PYMNTS Intelligence report, “Most CFOs See Limited ROI From GenAI, but Boost Its Investment,” found that 75% of CFOs plan to increase their AI investment.
This rise in investment is already playing out across the marketplace. Enterprise AI competitor C3.AI, which offers over 90 prebuilt enterprise AI applications addressing various industry-specific use cases, has seen its revenue grow double digits as customers like Shell and Con Edison turn to its solutions.
As covered here, enterprise spending on generative AI increased sixfold in 2024 to nearly $14 billion as businesses began implementing the technology after first experimenting with it. Healthcare was the leading vertical in terms of spending on generative AI, at $500 million. Other top verticals included legal services ($350 million), financial services ($100 million) and media/entertainment ($100 million).
That report noted that organizations typically deploy three or more such models, highlighting that OpenAI’s enterprise market share declined from 50% to 34% since 2023, while Anthropic’s share increased from 12% to 24% during the course of 2024.
Read more: Enterprise AI Emerges as Force in Business Process Automation
PYMNTS Intelligence finds that most workers agree GenAI can boost their productivity, particularly frequent users of the technology. Eighty-two percent of those who use GenAI at least weekly report that it can increase their productivity. This drops to 63% for those using it multiple times a month and 55% for those doing so less frequently.
Despite its transformative potential, unlocking new efficiencies by tapping enterprise AI is not without challenges. As demand for AI expertise outpaces supply, businesses must invest in upskilling their workforce and fostering a culture of continuous learning. Additionally, the rapid pace of AI innovation can make it difficult for enterprises to keep up with the latest advancements, necessitating partnerships with technology providers and research institutions.
PYMNTS’ fourth-quarter 2024 eBook, “Moving From ‘No, Because …’ to ‘Yes, And …,’” explores two transformative questions for executives: “How can we move from a ‘no, because …’ mindset to a ‘yes, and …’ mindset?” and “How often are we asking, ‘What if?’” These questions set the stage for industry leaders to share how they are fostering innovation, breaking down silos and reimagining possibilities, including through the use of AI.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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