AI Stats News: 65% Of Companies Have Not Seen Business Gains From Their AI Investments

Recent surveys, studies, forecasts and other quantitative assessments of the progress of AI highlighted the rapidly increasing expectations regarding the business benefits of AI and the low incidence of business gains so far; the increasing adoption of AI by businesses worldwide and the challenges in its implementation and integration with exiting processes; and how companies respond to AI by both reducing and training their workforce. The report estimated the combined AI spending from large-capitalization financial institutions at more than $150 billion annually. In the past two years, BB&T Corp. has embraced a digital-first approach to plugging in artificial intelligence and robotics into its back-office, customer-service and compliance operations. That should eclipse the 1,281 companies that raised $16.8 billion in all of 2018, according to the 3Q 2019 PitchBook-NVCA Venture Monitor [VentureBeat] "The values of AI designers or the purchasing administrators are not necessarily the values of the bedside clinician or patient. Those value collisions and tensions are going to be sites of significant ethical conflict"--Danton Char, assistant professor of anesthesiology, perioperative and pain medicine at Stanford University Medical Center "I don't yet fully subscribe to the view that the machine is completely autonomous and operates without human intervention. At least as of today, and probably the foreseeable future, the AI machine is just another tool"--Andrei Iancu, director of the U.S. Patent and Trademark Office, speaking about recognizing AI systems that develop new products as inventors "If leaders think about AI like a balance sheet, then they're missing the point. You need to get emotional attachment to the disruptive nature that it can bring"--Werner Boeing, CIO, Roche Diagnostics "The major upside for us is driving more engagement….Right behind that is the ability to monetize this and generate incremental revenue for us and for our clubs….This data's going to be hugely valuable"--Dave Lehanski, NHL senior vice president of business development and global partnerships