Cos can earn $460 bn in incremental profit if AI implementation improves

Global spending on AI-centric systems will approach $118 billion in 2022 and grow beyond $300 billion by 2026, said a recent study. But all this spending isn’t paying dividends. A study by Infosys Data+AI Radar found that companies can generate over $460 billion in incremental profit if AI implementation improves.

The three things that companies need to focus on to get these gains are to improve data practices, trust in advanced AI, and integrate AI with business operations. However, despite high expectations for data and artificial intelligence (AI), most companies fail to act on these areas to convert data science to business value.