Almost three quarters (74%) of the economic gains generated by Artificial Intelligence (AI) are being captured by just 20% of companies, a PwC study has found.
PwC’s new global AI performance study also has found that Irish companies are lagging behind their global peers where AI implementation and benefits are concerned.
The study interviewed 1,217 senior executives around the world, including in Ireland, primarily at large and publicly listed companies across 25 sectors.
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The PwC study asked questions about the revenue and efficiency gains senior executives are seeing from AI today, alongside questions about how they deploy the technology.
The PwC findings also show the leading companies are twice as likely to redesign workflows to incorporate AI, rather than simply adding AI tools.
Cork-based Will O’Brien, a director of cybersecurity with PwC Ireland, said: “Many companies are busy rolling out AI pilots, but only a minority are converting that activity into measurable financial returns.
“The leaders stand out because they point AI at growth, not just cost reduction, and back that ambition with the foundations that make AI scalable and reliable.”
Mr O’Brien added: “AI return on investment comes down to execution discipline: clear metrics, fast stop-or-scale decisions and designs built for reuse.
“Value shows up when AI is embedded in everyday work flows and not just in isolated pilots.”