From Pymnts · PYMNTS · · 1m 20s
Enterprises See Bigger AI Payoffs When It Becomes Daily Practice
Enterprises report stronger AI returns when technology becomes part of daily workflows.
In brief
Enterprises report stronger AI returns when technology becomes part of daily workflows. Enterprises with AI embedded in three or more business functions see 93% higher returns than those with no embedded AI. Originally reported by Pymnts.
AI in business functions
The September report found 60 US enterprises use AI in seven of eight business functions including payments, finance, product development and customer experience.
Most AI not daily practice
Only 20% of 437 AI deployments are embedded in regular work routines across business functions.
Reported returns rise
Companies with no embedded AI report 25% returns; those with one or two embedded functions report 55% returns; three or more embedded functions report 93% returns.
Deployment depth matters
Firms with AI embedded in one or two functions used it across 41 of 75 tasks; those with three or more used it across 40 tasks but reported higher returns.
Investment and obstacles
62% of surveyed enterprises spent more than $10 million on new AI tools in the past year while facing skill gaps and unclear responsibility.
Earlier experience helps
47% of firms that embedded older AI in at least two functions before 2022 have now embedded newer AI in three or more functions.
The headline
Enterprises with AI embedded in three or more business functions see 93% higher returns than those with no embedded AI.
