There’s a wealth of information about the high failure rates of AI projects while, simultaneously, an equally large number of surveys show that many, if not most, companies are already reporting positive business benefits and ROI from their AI investments.
For example, a global study of 2,000 CEOs IBM released in May says only 25% of AI initiatives delivered expected ROI, and only 16% have scaled enterprise-wide. In another, Wakefield Research, on behalf of Informatica, found 67% of 600 business leaders say they’re unable to successfully transition even half of their gen AI pilots to production, and 97% say they’re having trouble demonstrating the business value of their pilots. But other surveys seem to show the opposite.
In April, Enterprise Strategy Group surveyed 1,900 business and IT leaders, and, of those who deployed AI solutions, 92% said their investments have already paid for themselves. And for the over 1,200 respondents who have quantified the ROI of their gen AI initiatives, the average return is 41% through increased revenues, reduced costs, or both.