2020 BRN Discussion, page-25286

As corporate spending on artificial intelligence systems is set to pass $50 billion this year, the vast majority of companies may not be seeing much return on that record investment.

In a survey of more than 3,000 company managers about their AI spend, only 10% reported significant financial benefits from their investment so far, the new report from MIT Sloan Management Review and Boston Consulting Group found.

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But with AI’s promise of large-scale business savings and improvements, companies aren’t likely to stop investing in the technology soon. The BCG and MIT researchers found that 57% of companies said they’ve deployed or

For those projects to pay off, Khodabandeh says more AI adopters will need to rethink how the tech is integrated within their businesses. “There’s clearly a lot of hype,” he says. “And some of that hype comes out in the data.”