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A new Microsoft-backed study has revealed that most companies are realizing a return on their AI investments within 14 months, with AI deployments typically taking fewer than 12 months for nine in 10 organizations.
The study of more than 2,000 business leaders quantifies some of the benefits we’re already familiar with in terms of using AI tools in the workplace.
The report also highlights the impacts of the technology on the workforce and their organizations, including the potential for more jobs.
Microsoft says AI is good for everyone
Redmond’s report says that companies are returning an average of $3.5 for every $1 they invest in AI, and a small group of companies (around 5%) are returning as much as $8 on their investments.
In a bid to negate workers’ fears of losing their jobs to AI, the company stresses that artificial intelligence is quickly finding its home in the scene of boosting productivity – digital debt and administrative burdens are being handled in order to free up worker time to focus on more productive tasks with greater outcomes.
As well as worker satisfaction, AI is also said to be improving customer experiences across a wide range of industries by being able to provide more personal insights and responses.
In a way, Microsoft likens AI to a worldwide revolution, much like the industrial and digital revolutions of the previous century. Industries that have not typically explored deeply embedded technological solutions are being able to use AI to boost efficiency, including manufacturing and operations.
Moving forward, 22% of the participating leaders said that they would be introducing AI into their companies over the next 12 months, on top of the 71% that already have, and in stark contrast to the widespread fear of last year, the effects on humans look to be largely positive.
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