The first AI readiness index released by Cisco reveals that only 9% of Canadian businesses are fully prepared, facing urgency and challenges. 55% of businesses indicate they have at most one year to implement their AI strategies. Despite the challenges, 95% of organizations have already developed or are in the process of developing AI strategies, with 68% of organizations being rated as leaders or followers. Canadian businesses have made some progress in AI readiness, but still need to address various challenges, including infrastructure, data integration, and talent development.