According to a survey by Bain & Company, companies expect to see significant returns on their investments in artificial intelligence (AI) by 2024. The survey, which polled over 1,000 executives across various industries, found that 92% of respondents expect to achieve economic benefits from AI within the next two years. Furthermore, 63% of companies anticipate an increase in cash flow from AI initiatives, with an average expected increase of 16%. The survey also revealed that the top three areas where companies plan to invest in AI are customer service (41%), marketing and sales (39%), and product and service development (38%). However, the survey highlighted challenges companies face in implementing AI, such as lack of skilled talent (54%), data quality issues (50%), and difficulties in scaling AI initiatives (47%). Despite these challenges, the survey suggests that companies are optimistic about the potential of AI to drive growth and improve operational efficiency.
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Source: https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6