"According to a recent survey by professional services network PwC, more than half of the 4,454 CEO respondents said "their companies aren't yet seeing a financial return from investments in AI." Only 30 percent reported increased revenue from AI in the last 12 months. However, a far more significant 56 percent said AI has failed to either boost revenue or lower costs. A mere 12 percent of CEOs reported that it'd accomplished both goals."
""A small group of companies are already turning AI into measurable financial returns, whilst many others are still struggling to move beyond pilots," said PwC global chairman Mohamed Kande in a statement. "That gap is starting to show up in confidence and competitiveness, and it will widen quickly for those that don't act.""
"PwC also pointed out that most companies were lacking the "AI foundations, such as clearly defined road maps and sufficient levels of investment" to realize a return."
More than half of 4,454 CEOs report their companies are not yet seeing financial returns from AI investments. Only 30 percent saw increased revenue from AI over the past year, while 56 percent said AI neither boosted revenue nor reduced costs and 12 percent reported both outcomes. Companies continue large-scale spending on data centers and related infrastructure even as measurable productivity gains remain elusive. Executives fear falling behind if they do not adopt AI, while a small group already achieves measurable returns and many others remain stuck at pilot stages. Most firms lack clear AI road maps and sufficient investment, and generative AI efforts largely fail to deliver rapid revenue acceleration, with the technology’s effectiveness questioned due to frequent hallucinations.
Read at Futurism
Unable to calculate read time
Collection
[
|
...
]