AI hasn't delivered the profits it was hyped for, says Deloitte

Making money isn't everything ... at least not when it comes to AI. Research from professional services firm Deloitte shows that, for most companies, adopting AI tools hasn't helped the bottom line at all. But researchers still sing the technology's praises.

According to Deloitte's "State of AI in the Enterprise" report [PDF], 74 percent of organizations want their AI initiatives to grow revenue, but only 20 percent have seen that happen.

The consultancy's findings echo a recent PwC business leader survey that found only 12 percent of CEOs saw both lower costs and higher revenue as a result of AI investments.

Deloitte's explanation of the current state of affairs is that money isn't everything.

"[S]uccess with AI isn't just about boosting efficiency or even growing revenue," the report says. "It's about achieving strategic differentiation and a lasting competitive edge in the ...