Worldwide survey says organisations failing to meet the moment on digital transformation
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The billions that companies are pumping into artificial intelligence are yielding little as yet. More than half of top executives so far see no financial return from their AI investments.
This is according to PwC research among CEOs worldwide.
Only three in 10 chief executives report that AI has increased revenue in the past year. A quarter see cost savings, but the majority (56%) note neither higher revenues nor lower expenses.
The dissatisfaction with AI is due to the fact that it has not been able to increase revenue.
Satisfaction with the pace of companies’ digital transformation appears to be the biggest sticking point. When CEOs have to choose which question currently concerns them most, one stands out: are we transforming our business fast enough to keep up with technology, including AI?
PwC already implicitly answers that question: no. The reason is, that global executives would like to benefit from the deployment of new technology, but are not doing enough, if any, of it. The researchers: there is an identifiable gap between word and deed.
The findings outline a world struggling with the transition to a new technological reality. Companies are still in the early days of the AI era. The pressure to innovate faster is increasing, but organisations are failing to facilitate it.
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