Execs love AI, just not enough to pay for user training

Just 4 percent of businesses achieved a return on their AI investments, yet rather than admit AI isn't living up to early expectations, a newly published study is blaming the users for not doing enough.

Based on research conducted by Economist Impact, part of the Economist media organization, the report says that business leaders give lip service to the strategic value of AI while neglecting to invest in the necessary skills, and few firms have a governance framework in place.

The research surveyed 639 senior decision‐makers in London, New York, Singapore, Sydney, and Tokyo to discover how organizations are preparing for an AI-powered future. It focused on three key areas – investment, developing talent, and culture & governance.

However, it found most companies are lacking in each area. Only 38 percent have a dedicated budget for investing in AI development and are struggling to embed the tech into core ...