Expanding Corporate Use of Artificial Intelligence

Despite interest in artificial intelligence (AI) as a transformative driver of economic growth, few Korean companies use AI. Companies currently using AI are increasing their AI investments and expenditures. Companies employ AI in a wide range of functions and fields including automated operations, predictive analytics, product and service development, and sales and inventory managementChallenges to the application and use of AI exist in multiple, closely-connected domains. Challenges include human capital scarcity, inadequate funding, the difficulty of acquiring technology, and both the internal and external business environments confronting companies.This work analyzes the barriers to increased corporate adoption of AI technologies and proposes a set of policy suggestions to improve AI uptake at Korean companies