92% of AI team leaders at leading-edge organizations felt that their AI initiatives are generating value, according to Wallaroo.AI. Having found a successful formula, most of those surveyed plan to dramatically increase their spend on ML and use of ML models in the near term.
Despite prior industry research indicating that 90% of AI initiatives fail to produce substantial ROI and roughly half never leave the prototype stage, the overwhelming majority of respondents to this survey (92%) find business value from their models in production and 66% feel their models have delivered results that are outstanding or exceed expectations. Common use cases for AI among these leading-edge organizations include personalizing the customer experience, fraud detection, optimizing sales and marketing and improving real-time decision making.
Read more: https://www.helpnetsecurity.com/2023/10/06/ai-initiatives-value/