Organisations waging their bets on AI are seeing tangible business impact, with a Microsoft-sponsored study finding that for every $1 a company invests in AI it is realising an average of $3.5X.
The study, conducted by IDC, also found that organisations are realising a return on their investments within 14 months and also uncovered the biggest barrier to adoption – a lack of skilled workers able to implement and scale AI.
Surveying more than 2,000 business leaders and decision makers, the study – which builds on the results from Microsoft’s Work Trend Index – focused on workplace productivity and examines how companies are monetising their AI investments, from generating new revenue streams to delivering differentiated customer experiences, to modernising internal processes.
“IDC is projecting that generative AI will add nearly US$10tn to global GDP over the next 10 years,” said Ritu Jyoti, Group Vice President AI and Automation for IDC. “Calculating the value of new investments in gen AI requires building the business case by simulating potential cost and responsible value realisation.”
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