- Only one in five organizations have achieved revenue growth from AI
- AI's transformational impact falls short of its promises so far
- A steady and cautious approach looks to be playing out
Although three-quarters (74%) of organizations are targeting revenue growth as a key metric for AI deployment, only one in five (20%) have actually achieved it, but many business leaders are actually fine with it, new research has claimed.
Adding to that, only 25% describe AI as having a transformative impact despite 66% agreeing that it improves productivity and efficiency somewhat.
However, data from Deloitte evidences indications that the world is moving from AI experimentation to implementation, with one in four organizations already having moved 40% or more of their pilots into production.
Artificial intelligence is still considered a long-term strategy
Looking ahead, this figure is expected to rise from one to two in four within the next six months, suggesting execs are playing a longer game.
Agentic AI adoption is also on track to reach 74% within the next two years, up from 23% today, further supporting the theory that business leaders are confident in AI, but are treating it with caution.
They're also being choosy with how they invest cash, with four in five noting sovereign AI's importance. At the moment, asserting control over data and infrastructure seems to be more of a priority than getting major financial returns.
However, some barriers remain, such as the under-adoption of AI due to its limited perceived use cases.
Fewer than three in five workers use AI in their daily workflows at the moment, but immediate adoption might not be the priority for many organizations with leaders instead increasing the number of banned AI tools – maybe laying the foundations and setting strong governance is more important.
Deloitte also floated the idea thin resources could be to blame for slow returns: "Organizations are faced with competing priorities: the need to run their core business with current technology while investing in the innovation required to compete in the future."
Whatever the cause is, Deloitte agrees that focusing on humans and machines in equal measure is key. "Advancing both the capabilities of their talent and AI tools... empowers teams to embrace reimagined business models and sets the foundation for competitive advantage," US Head of AI Jim Rowan summarized.
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Source: TechRadar
