AI investment to increase but challenges remain around delivering ROI

Two-thirds of senior executives across industries -- and nearly nine out of ten leaders from the world's largest enterprises -- believe AI is vitally important for the future of their businesses and will be increasing AI investment in the post-pandemic era. However, significant challenges remain on delivering ROI from AI investment. An ESI ThoughtLab study of 1,200 organisations has revealed that companies are generating on average an ROI of only 1.3%, while 40% of AI projects are not yet profitable. The reason for this, according to the research, is that AI initiatives require time, expertise and scale to deliver on their promise of high returns. With the pandemic speeding up the need for quick data-driven decision-making, companies should act now to develop the skills, platforms, and processes that can enable them to achieve the full strategic, operational, and financial benefits from AI.