More than half of the companies investing in artificial intelligence (AI) projects have been unable to extract any tangible benefits, according to recently published research.
Despite the challenge of proving return on investment (RoI), interest in AI continues to rise. A report from SaaS management platform Cledara indicates a 245% increase in the use of AI tools over the past year. Most notably, ChatGPT has seen 33 times more usage than its nearest competitor.
While 82% of companies are experimenting with AI, only 47% are realizing substantial value from it. A quarter (24%) are achieving cost reductions through greater operational efficiency, while 11% have experienced revenue growth, and 12% report both outcomes.
“While the excitement around AI is palpable, our data reveals a nuanced reality,” said Brad van Leeuwen, co-founder at Cledara. “Businesses are rapidly adopting AI tools, but many are still navigating how to extract real value. This gap presents a significant opportunity for AI providers to demonstrate tangible ROI and for businesses to refine their AI strategies.”
Notably, success in achieving RoI appears to be higher within the financial services sector. A separate study published this week found that 92% of financial services firms believe AI is positively impacting their innovation efforts. Among financial and accounting businesses, 58% report that the primary use of AI is to support innovation, compared to just 35% using it for automation.
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