More than half of CEOs report seeing neither increased revenue nor decreased costs from AI, despite massive investments in the technology, according to a PwC survey of 4,454 business leaders.
The findings pour more cold water on the hyperbole surrounding AI and the benefits it supposedly brings to business, although the report cautions that “clearly, we’re in the early stages of the AI era.”
Only 12 percent reported both lower costs and higher revenue, while 56 percent saw neither benefit. Twenty-six percent saw reduced costs, but nearly as many experienced cost increases.