- More than half of companies have now appointed a Chief AI Officer
- Three-quarters of enterprises are now focusing on growth, not cost savings
- Consumers aren’t overly optimistic, but many have already unlocked new revenue streams
Up until now, AI has been touted for its productivity boosts, but new research from Thoughtworks has revealed artificial intelligence could actually be about growth.
More than three in four (77%) global enterprises have shifted AI from cost savings and towards growth and innovation – a trend that’s most prevalent among larger enterprises.
Today, more than a quarter (27%) of the 3,500 IT decision-makers (ITDMs) surveyed expect up to 10% more revenue growth from AI over the next year.
Should we measure AI’s success in growth, not efficiency?
Similarly, many business leaders have wrongly expected near-instant benefits from AI, but Thoguhtworks’ research shows that the tech’s use is a longer-term game. Nearly half of business leaders are expecting a 15% rise, or higher, in revenue over the next decade.
Steering companies are Chief AI Officers (CAIOs) – more than half of the firms analyzed said they’ve now appointed one. Most of them have direct access to budgets, and most are accountable for ROI. They’re also more common in developing countries like India and Brazil, where there are higher adoption rates and general AI optimism.
However, while AI (and particularly agentic AI, per the report) might be proving its use cases among businesses, consumers are slightly less optimistic. One in five (21%) believe AI will have no impact on their lives over the next five years, with skepticism at its highest in the UK and the US.
Where AI crosses the boundaries, though, is in creating new job opportunities for individuals. According to the data, 13% of consumers have unlocked a new revenue stream thanks to the tech. Business leaders tend to agree with the benefits, too, with 84% agreeing AI has augmented talent rather than threatened workers.
On the whole, the research hints to the merging of work and personal life through AI, but maybe we’ve just been looking at the wrong metrics all along.
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