AI still isn’t living up to its full potential for many business
- HR and finance aren’t seeing great results from AI, report finds
- Only 11% are seeing tangible gains from most of their AI initiatives
- A unified data strategy with improved integration and analytics is needed
New research has claimed AI investment in UK businesses still isn’t translating into consistent or measurable returns, suggesting many firms are yet to evolve from their experimentation to implementation phases as they struggle to work out effective use cases.
This comes as many sectors still struggle to see any real results from AI tools, with 37% of HR and 30% of finance businesses surveyed by Qlik stating they see the least tangible benefits.
This is compared with the four in five (81%) IT and cybersecurity departments which have seen improvements.
AI investments don’t directly translate into results
Qlik also found most companies are still stuck in pilot phases, lacking the tools and skills to scale AI impact.
Only one in 10 (11%) companies report that most (75%+) of their AI initiatives have delivered tangible gains, with around one-quarter (23%) acknowledging that the majority of their AI use case are still in the experimental phase.
Nearly half (44%) also admitted that there’s a disconnect between perceived and actual productivity gains from AI, with a similar number (51%) evaluating AI using KPIs tied directly to business performance, instead of evolving their metrics to the shifting tech landscape.
“This gap between hype and reality is a wake-up call. Businesses need to focus on measurement, alignment, and building the data infrastructure that enables AI to deliver at scale,” Qlik Chief Strategy Officer er James Fisher explained.
A lack of internal skills is affecting nearly one in two (49%) businesses, with technical issues like incompatible tools and platforms (36%) and a lack of real-time data integration (37%) also proving troubling. Evidently, architecture and data foundation are still holding many firms back, while budget is becoming less of an issue.
Looking ahead, 89% agree a unified data strategy is essential for assessing ROI. Many also agreed that improved data integration and analytics (57%), greater visibility into how AI models make decisions (55%), strong collaboration across departments (49%) and outcome-focused KPIs (46%) are impotent to deliver real AI impact.
“That means scalable tools, integrated strategies and collaboration across every function,” Fisher concluded.
You might also like
HR and finance aren’t seeing great results from AI, report finds Only 11% are seeing tangible gains from most of their AI initiatives A unified data strategy with improved integration and analytics is needed New research has claimed AI investment in UK businesses still isn’t translating into consistent or measurable…
