Sorry, but the ROI on enterprise AI is abysmal
The deployment of AI projects and associated return on investment (ROI) have declined, according to a large survey of IT decision-makers.
Appen, an AI data services company, working with The Harris Poll queried 500 IT decision-makers across various US industries for its report, The 2024 State of AI.
The results indicate that despite growing enthusiasm for AI tools for marketing, communications and manufacturing – up 17 percent from 2023 – enterprise deployments and overall ROI are down.
According to Appen, the mean percent of AI projects that get deployed has fallen from 55.5 percent in 2021 to 47.4 percent in 2024, a decline of 8 percentage points. And the mean percent of deployed AI projects that have shown significant ROI has slipped from 56.7 percent to 47.3 percent.
"By incorporating expert-labeled training data and rigorous evaluation processes, enterprises can better align their models with real-world needs, enhancing accuracy and relevance," the report says. "This results in models that are not only more capable but also more likely to reach deployment and deliver meaningful ROI."
