A new study by MIT's CISR reveals that most enterprises are still in the early stages of AI implementation, focusing on education, experimentation, and process automation. However, the research also indicates that organizations that have progressed to more advanced stages of AI maturity experience significantly improved financial performance.
If you worry that your organization is falling behind in its artificial intelligence initiatives, don’t feel so bad — just about everyone is still in the learning and piloting stages. And if it’s unclear whether there will be return on investment at the end of all this work, there is financial advantage as well,
There are at least four logical stages in AI advancement, and most enterprises are still working through the experimental and pilot stages, an analysis of 721 companies by the MIT Center for Information System Research concludes. As AI proceeds, there is now evidence that overall financial performance advances as well.
Most enterprises in the survey were in the first two stages of AI maturity and had financial performance below the industry average, according to the report’s authors, led by Peter Weill and Stephanie Woerner, both with MIT. Enterprises in stages three and four, on the other hand, had financial performance well above industry average — exceeding 10 percentage points.More than one in four enterprises in the research were still at this stage of AI.
One thing is clear; AI success is a journey, and the ability to rapidly leverage and adapt resources and technology is key — as new technologies and capabilities keep arising almost every day.
Artificial Intelligence AI Adoption Enterprise Technology Financial Performance Business Automation
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