What happened
Research indicates that artificial intelligence implementation is boosting revenue, with 82% of businesses significantly investing in AI reporting increased revenue. Financial technology saw a 136% return on investment, equating to savings exceeding $1.36 million for every $1 million invested over three years. AI-driven automation enhances operational efficiency by reducing manual workloads and minimising errors. Generative AI could add trillions in value to the global economy through increased labour productivity. However, unlocking AI's potential requires addressing infrastructure, skills, and effective application to specific business problems.
Why it matters
The reported revenue gains from AI are contingent upon addressing significant operational constraints related to infrastructure, skills, and effective application. This introduces a heightened due diligence requirement for procurement and IT teams to ensure AI solutions are properly integrated and supported. Furthermore, a skills gap creates an operational burden on training and HR departments, increasing exposure to suboptimal AI deployment and potentially limiting expected returns if these foundational elements are not robustly managed.
