May 10, 2024

The Business value of AI

Microsoft commissioned a study through IDC

AI’s economic impact is becoming significant as it becomes more integrated into society. Organizations are starting to understand the potential of AI, but it must make good business sense for companies to invest in it. Business leaders and decision makers need help demystifying the business case for AI, including understanding the best use cases, return on investment, time to value, and how to get started.

Microsoft commissioned a study through IDC to provide insights into how AI is driving economic impact for organizations. The study surveyed over 2,000 business leaders and decision makers worldwide who are responsible for AI transformation. Key findings include:

  • 71% of respondents say their companies are already using AI.
  • 92% of AI deployments take 12 months or less.
  • Organizations realize a return on their AI investments within 14 months.
  • For every $1 invested in AI, companies realize an average return of $3.5X.
  • 52% report a lack of skilled workers as the biggest barrier to implementing and scaling AI.

The study shows that AI has demonstrable business value, particularly in areas like employee experience, customer engagement, and internal business processes. Generative AI, such as OpenAI’s ChatGPT, adds even greater value. IDC projects that generative AI will contribute nearly $10 trillion to global GDP over the next 10 years.

AI adoption is accelerating and changing how we work and live. Microsoft customers are increasingly embracing AI opportunities for business transformation. AI is being used to enrich employee experiences by addressing digital debt and administrative burdens, leveraging unstructured data to tailor communications and enable meaningful work.

In this article:
The results of a study Microsoft commissioned about AI.
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