Dive Brief:
- Nearly three-quarters (72%) of business leaders now have a structured process in place for tracking returns on artificial intelligence investments using metrics such as productivity, profitability and throughput, according to survey results released Tuesday by the Wharton School of the University of Pennsylvania.
- Three out of four respondents evaluating their generative AI investments reported seeing positive returns so far, according to a report on the findings.
- “As leaders across functional areas continue to increase investment in GenAI, the overwhelming feedback is they are not only looking to use AI to boost employee productivity, which has become table stakes, but to integrate it effectively and responsibly into workflows to drive measurable ROI,” Stefano Puntoni, a marketing professor at the Wharton School, said in a press release.
Dive Insight:
Worldwide spending on AI is forecast to reach nearly $1.5 trillion in 2025, with the number poised to top $2 trillion by 2026, according to Gartner.
An Ernst & Young study released in July found that about 21% of organizations were investing $10 million or more in AI, up from 16% just a year ago, while a third (35%) anticipated spending $10 million or more on the technology next year.
The Wharton survey found that most (88%) of leaders expect to increase generative AI spending in the next year, with 62% anticipating double-digit growth over the next two to five years. Measuring returns on generative AI investments has quickly become a standard business practice, according to the research.
“Functions with established metrics cultures, such as HR and Finance, are ahead, and the trend is spreading across the enterprise, evidence of the pivot from exploration to accountability,” the report said.
Wharton predicted that 2026 could mark a turning point for generative AI deployments, where the focus shifts from “accountable acceleration to performance at scale.” Now that adoption of the technology has become mainstream, the challenge for organizations will be “less about experimenting and more about sustaining competitive advantage through proven use cases, standardized benchmarks, and trusted guardrails,” according to the release.
Wharton surveyed more than 800 U.S. business leaders in functions such as finance, HR, IT and legal.
