– Most companies are seeing a return on their AI investments within 14 months.
– AI deployments typically take fewer than 12 months for 90% of organizations.
– Companies are returning an average of $3.5 for every $1 they invest in AI.
– Some companies are returning as much as $8 on their AI investments.
– AI is being used to boost productivity and free up worker time for more productive tasks.
– AI is improving customer experiences by providing more personal insights and responses.
– AI is being used in industries that have not traditionally explored technological solutions, such as manufacturing and operations.
– 22% of business leaders plan to introduce AI into their companies in the next 12 months.
– The effects of AI on humans are largely positive.
A new Microsoft-backed study has revealed that most companies are realizing a return on their AI investments within 14 months, with AI deployments typically taking fewer than 12 months for nine in 10 organizations.
The study of more than 2,000 business leaders quantifies some of the benefits we’re already familiar with in terms of using AI tools in the workplace.
The report also highlights the impacts of the technology on the workforce and their organizations, including the potential for more jobs.
Microsoft says AI is good for everyone
Redmond’s report says that companies are returning an average of $3.5 for every $1 they invest in AI, and a small group of companies (around 5%) are returning as much as $8 on their investments.
In a bid to negate workers’ fears of losing their jobs to AI, the company stresses that artificial intelligence is quickly finding its home in the scene of boosting productivity – digital debt and administrative burdens are being handled in order to free up worker time to focus on more productive tasks with greater outcomes.
As well as worker satisfaction, AI is also said to be improving customer experiences across a wide range of industries by being able to provide more personal insights and responses.
In a way, Microsoft likens AI to a worldwide revolution, much like the industrial and digital revolutions of the previous century. Industries that have not typically explored deeply embedded technological solutions are being able to use AI to boost efficiency, including manufacturing and operations.
Moving forward, 22% of the participating leaders said that they would be introducing AI into their companies over the next 12 months, on top of the 71% that already have, and in stark contrast to the widespread fear of last year, the effects on humans look to be largely positive.
More from TechRadar Pro
AI Eclipse TLDR:
A Microsoft-backed study has found that most companies are seeing a return on their investments in artificial intelligence (AI) within 14 months. The study surveyed over 2,000 business leaders and revealed that nine out of ten organizations are able to deploy AI within 12 months. The report highlights the benefits of using AI tools in the workplace, including increased productivity and improved customer experiences. Companies are seeing an average return of $3.5 for every $1 invested in AI, with some companies even seeing returns as high as $8. Microsoft emphasizes that AI is not a threat to jobs but rather a tool to boost productivity and free up workers to focus on more important tasks. The study also shows that industries that have traditionally not explored technological solutions are now able to use AI to improve efficiency. Moving forward, 22% of the surveyed leaders plan to introduce AI into their companies within the next year. Overall, the impact of AI on humans appears to be largely positive.