significant financial return
Artificial Intelligence cartoon
"Children today are not only digital natives, they're AI natives." I was struck by this observation by Cynthia Breazeal, MIT professor and founder of RAISE (Responsible AI for Social Empowerment and Education). Artificial intelligence is impacting every walk of business life. And yet, as with most sea changes in technology, your mileage may vary. A study from BCG Gamma found that only 10% of businesses see significant financial returns on their AI investments.
Just 11% of companies using AI reap significant financial returns, study finds
Despite widespread use of artificial intelligence, only 11% of companies say they see a significant financial return on their investment, according a new study by Boston Consulting Group in partnership with MIT Sloan Management Review. The low yield was revealed in a global survey of more than 3,000 managers with 57% saying they have piloted or deployed AI, a significant increase over three years ago. The authors of the study reported that companies can get the basics of AI right with the right data, technology, talent and strategy, but still see low ROI. "Only when organizations add the ability to learn with AI do significant benefits become likely," the authors said. The elements of learning with AI require companies to have a combination of machines learning autonomously, humans teaching machines and machines teaching humans.