While the hype around AI shows little sign of abating, various studies over the years have highlighted the lackluster returns many organizations have seen from their investments. Most demonstrate that not only are investments often at a pilot or exploratory stage, but they are also unevenly distributed in favor of larger organizations.
Research from Accenture suggests that little has really changed, with just 12% of organizations using AI to secure a strong competitive advantage. The report shows that so-called AI maturity averages a score of just 36 out of 100, which highlights the long way many still have to go before lasting and meaningful value is drawn from AI investments.
“We believe every part of every business must be transformed by technology, data and AI, in some cases resulting in total enterprise reinvention,” Accenture explain. “AI Achievers are showing their peers what’s possible when you release the full potential of talent and technology, working in tandem, supported by a clear vision and commitment to change. But even this most mature group has plenty of room for growth. And while most industries have AI Achievers, they vary greatly in how AI-mature they are overall and the leaps they will make.”
Slow progress
The results reveal that just 12% of organizations are using AI to gain a meaningful competitive advantage. These organizations, which are dubbed the AI Achievers, manage to achieve a score of 64 on the maturity scale. The researchers believe this helps to contribute to 50% higher revenue growth than their less advanced peers. Among these are the 63% of organizations that have barely scratched the surface of AI to date.
Perhaps unsurprisingly, tech firms tend to have the highest level of AI maturity, with car manufacturers also expected to see considerable growth in the years ahead.
Despite the relatively lackluster returns on AI to date, Accenture remains bullish that the technology will have a significant impact on businesses. Indeed, they argue that firms that spoke about AI most frequently on earnings calls were 40% more likely to see a rise in their share price.
“Adopting AI at scale and embedding it deeper in all aspects of business is no longer a choice, but a necessity and opportunity facing every industry, organization and leader,” they conclude. “While the science of AI is ground-breaking and inspiring, harnessing it fully is an art that leaders must continually practice. Our report provides actionable recommendations for how to advance AI maturity to join the ranks of the AI Achievers.”
