The BCG GAMMA, BCG Henderson Institute and MIT Sloan Management Review presented the 4th edition of their editor Expanding AI’s Impact With Organizational Learning. Surveyed more than 3,000 executives in 29 industries and 112 countries, it reveals that only 10% of companies today report that they are seeing a very significant financial impact from their Artificial Intelligence (AI) initiatives. Yet, paradoxically, the adoption of AI is advancing at a fast pace: 59% of companies have an AI strategy, 20 points higher than three years ago.
But then, why so little return on investment? How do companies that are champions in AI fare?
Data, talent, tech … far from enough?
Executives are now aware that deploying AI at scale is a business imperative: more than half (57%) say their company is piloting or deploying AI, nine points higher than in 2017. 70% are now convinced that AI can create value, compared to 57% three years ago.
However, even when they have successfully deployed the fundamentals of AI, i.e. data, talent and technology, only 20% of companies perceive a significant financial impact.
“Few companies today are creating financial value through AI, even when the fundamentals are in place. Leading companies are those that manage to place AI at the heart of their processes, in the daily life of their teams, what we call the Human + AI approach”, explains Sylvain Duranton, Global Director of BCG GAMMA.
To become a champion of AI, the role of reciprocal human and AI interactions is key. 73% of companies that promote mutual and continuous human-machine learning perceive very significant financial benefits.
The indispensable collaboration between human and AI
AI champion companies that have mastered the human-machine collaborative approach have implemented two key initiatives:
- Systematically encourage reciprocal learning opportunities: AI and humans can and should learn from each other. The goal is therefore not to learn from machines or machines, but to learn with machines.
- Promote the fair distribution of roles between AI and humans according to the context and strengths of each. Humans are more at ease in ambiguous contexts and new situations, AI in the analysis of large amounts of data.
Who should recommend, decide, implement? Companies that are able to master these initiatives and choose the right mode of interaction according to the context are six times more likely to have a significant financial impact.
So AI champion companies are not just changing processes to use AI, they are changing processes in response to what they learn with AI. They are widely adopting agile, testing, learning and reskilling practices that are focused on value creation.
“Perceiving a significant financial impact from AI initiatives is not unique to technology companies. The path will not be easy, but all companies, in all sectors, even the most traditional ones, can do it. Success is not tied to heritage, industry or geographic positioning. Traditional large groups, whether it is a European energy company like Repsol, an Indian telecom operator like Airtel Bharti or an American retailer like Walmart, can become champions of AI, by making the right decisions and making human and AI mutual learning a reality within their organisations. “says François Candelon, Global Director of the BCG Henderson Institute.
Methodology
Study based on the responses of more than 3,000 executives in 29 industries and 112 countries. In-depth interviews were also conducted with managers to highlight the different use cases and the evolution of AI adoption by sector over the last four years.
You can download the study HERE.
Translated from Entreprise et IA : seulement 10% des entreprises percevraient un impact financier très significatif selon une étude
