Dive Brief:
- Though most businesses grapple with AI roadblocks, common indicators of success are beginning to emerge, according to an Accenture analysis of more than 2,000 generative AI projects and surveys of 3,000-plus C-level executives published this month.
- Fewer than 2 in 5 executives say generative AI tools are deployed at scale, and only 13% of business leaders say the technology has brought significant value at an enterprise level. C-suite members blame the lag on talent gaps, data readiness and lack of CEO support.
- Among companies with value-driving AI projects, many have invested in agentic architecture, increased generative AI investments this year and created a comprehensive data strategy to support these efforts.
Dive Insight:
Persistent generative AI struggles have not deterred enterprise leaders from investing in the technology. Instead, enterprises are doubling down and working to ease adoption barriers.
Most enterprises have ramped up generative AI investments this year despite project delays and scrapped pilots. Returns on investment were hard to come by in 2024, but business leaders still expect to reach cost savings in the near term. Around 44% of IT leaders anticipate an ROI within the next two years, according to IBM-commissioned research.
Some businesses have already been able to identify the value AI initiatives are bringing. Charles Schwab tied its increased AI use to cost savings during its latest investor call in January. In February, General Mills executives also attributed millions in cost savings to its AI projects.
As enterprise strategies have matured, more leaders are working to align AI efforts with clear ROI and outcome expectations. Aflac EVP and CIO Shelia Anderson said during a CIO Dive virtual event this month that the insurance company starts AI initiatives by identifying the business opportunity, rather than chasing every potential use case, to keep a handle on costs and better understand priorities.
Most successful AI projects have a few things in common, according to Accenture. Nearly three-quarters of generative AI investments are targeting IT, customer service and marketing needs, the firm found. Businesses are also benefiting from deploying domain-specific applications.
Enterprises that have had success continue to push innovation forward, including investments in AI agents.
“Companies are positioning themselves to compound their advantage; those still hesitating risk slipping further behind,” Accenture said in the report.
