Bain & Company: AI Struggles to Deliver Promised Savings
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Bain & Company: AI Struggles to Deliver Promised Savings
A recent survey by Bain & Company revealed that many companies are struggling to achieve their savings goals through artificial intelligence. Of the 951 companies surveyed, about 40% reported achieving less than 10% in savings, while their targets generally ranged between 11% and 20%. In contrast, 14% of companies managed to save more than 21%, and 43% exceeded the 10% mark.
Despite these mixed results, a staggering majority of companies, nine out of ten, plan to increase their investments in AI, with a particular focus on developing AI agents.
The Impact of Human Involvement
The study highlights that excessive human involvement is one of the main reasons why savings are falling short of expectations. Currently, only 7% of companies use fully autonomous AI agents, even though their use cases assume this level of automation. Furthermore, 32% of companies only involve humans when necessary, while the most common configuration, at 38%, still requires human approval.
Challenges Related to Data Access
Access to data is identified as the primary obstacle by 41% of the surveyed companies. Bain & Company recommends that companies view this challenge as a management issue rather than just an IT task. It is suggested to rethink internal processes before deploying AI to overcome these barriers and maximize potential benefits.
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