FYI: Most AI spending driven by FOMO, not ROI, CEOs tell IBM, LOL
Just one in four AI investments are reaping the expected returns, according to a recent IBM survey of 2,000 CEOs. This finding, released during IBM’s annual Think conference, suggests that businesses are primarily motivated by the fear of missing out (FOMO) rather than actual financial incentives when it comes to AI spending.
Key Points
- Only 25% of AI initiatives have generated the anticipated ROI as revealed in the IBM survey.
- Despite FOMO-driven adoption, only 16% of AI initiatives have scaled within enterprises.
- Over half of the CEOs indicate their organisations face challenges in balancing funding between existing operations and innovation.
- 64% of CEOs adopted AI without fully understanding its potential benefits for their organisations.
- Most CEOs (61%) expect to double their AI investments in the next two years.
Why should I read this?
If you’re even remotely involved in the tech scene, this article is a must-read! It exposes some harsh truths about why companies are throwing money at AI tools without a clear strategy or expectation of returns. It’s clear that while there’s a rush to adopt AI, the reality is very different from the hype surrounding it. So, save yourself a bit of confusion and read the full scoop!