Research indicates that artificial intelligence implementation is boosting revenue within the real economy. Companies are seeing substantial returns on their AI investments, with 82% of businesses that invest significantly in AI reporting increased revenue. This translates to a 136% spike in return on investment in financial technology, equating to savings exceeding $1.36 million for every $1 million invested over three years.
AI's economic value now hinges on its widespread adoption and effective integration. Generative AI could potentially add trillions of dollars in value to the global economy through increased labour productivity. Industries like banking, high tech, and life sciences stand to gain the most. AI-driven automation is also enhancing operational efficiency by reducing manual workloads and minimising errors, leading to significant productivity gains.
However, some studies suggest that companies are not yet reaping significant returns from AI, even with trillions of dollars being invested. The key to unlocking AI's potential lies in addressing challenges related to infrastructure, skills, and ensuring its effective application to specific business problems.
