More than half of CEOs say they’ve yet to realise either a revenue or a cost benefit from AI, according to a study by PwC.
PwC’s 29th Global CEO Survey quizzed 4,454 CEOs across 95 countries and territories.
Most conceded their companies aren’t yet seeing a financial returns from their AI investments.
Although 30% reported increased revenue from AI in the last 12 months and 26% are seeing lower costs, 56% said they’ve realised neither revenue nor cost benefits.
PwC’s findings come after an MIT report last summer found that 95% of AI pilots at companies are failing.
This is despite a rush on kit for AI datacentres fuelling growing product shortages in the channel.
Tangible AI returns come from enterprise-scale deployments consistent with company business strategy, PwC claimed, adding that its work with organisations suggests “isolated, tactical AI projects often don’t deliver measurable value”.
Those at the vanguard – namely the one in eight achieving both additional revenues and lower costs from – are furthest ahead in building these “foundations”, it claimed.
“For example, 44% of those in the vanguard have applied AI to their products, services, and experiences, compared to only 17% for other companies,” it stated.
