Recently, Google Cloud and a national research group conducted a joint survey, which revealed that companies using generative AI are achieving significant return on investment. The survey data indicates that among the 2508 global companies surveyed, 61% reported using generative AI in at least one application, and 74% of these companies saw returns within a year. Among these companies, 86% reported revenue growth of 6% or more.
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Oliver Parker, Vice President of Google Cloud, stated that generative AI is not just a technological innovation but also a strategic differentiator. He noted that early adopters of generative AI are reaping substantial rewards, such as increased revenue, improved customer service, and enhanced productivity. They point out that companies can transition from conceptualizing AI use cases to actual implementation within less than six months.
The survey also showed a 45% increase in overall productivity. Among these, 70% of respondents attributed the productivity boost mainly to process and employee efficiency, although the report did not specify which IT processes. Other productivity improvements included faster insight times and higher accuracy.
Over 63% of businesses view AI as a driver of business growth. Many companies reported that AI tools directly improved customer leads and acquisition. Particularly in the financial services industry, 82% of respondents said AI excelled in generating customer leads.
However, another survey found that while companies are using AI, some employees feel their productivity has not improved. According to research from Upwork, there is a significant gap in expectations between employees and executives. Data shows that 81% of executives want employees to improve their performance, while 37% believe AI tools should increase employee output.
Although many employees have a positive attitude towards AI usage, believing it can enhance productivity, only 35% feel this improvement in their work. The survey revealed that 47% of employees do not know how to leverage AI to assist their work due to a lack of relevant training.
Google emphasizes the need for companies to develop comprehensive strategies when introducing AI, starting small and focusing on core business areas. The report also highlights the importance of providing training for employees, as many wish to be involved in the formulation of AI-related strategies. Upwork's research also suggests that 74% of employees believe companies need to reevaluate their definition of employee productivity.
Key Points:
🌟74% of companies using generative AI saw a return on investment within a year.
📈86% of companies reported revenue growth of 6% or more.
🧠63% of companies consider AI a significant driver of business growth.