Bain & Company: AI Struggles to Deliver Promised Savings
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.
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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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