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AI Summary
Key Moments
Difference in results between AI users
The best AI users perform 31 percent better than the worst, demonstrating the importance of maturity and focus.Billions of dollars from mature AI infrastructure
Companies with a mature technical foundation and targeted investments can generate billions in value that others miss out on.Productivity gains with strong data architecture
Companies with strong data architectures see nearly 27 percent higher productivity gains and lower risk of AI initiative disruption.The importance of external expertise
High-performing companies are increasingly using external partners to strengthen their AI strategies.The actual results of AI depend less on the technology itself and more on the maturity of the company's technology infrastructure and where the investments are made. Companies that succeed in this are already generating economic value that can be measured in billions of dollars, according to a study by the global technology and business consultancy Cognizant.
The study, Closing the AI Execution Gap: A $2 Billion Business Boost, is based on a survey of 1,100 decision-makers at Global 2000 companies and 100 startups across 10 industries. One of the clearest findings is that two-thirds of decision-makers have yet to demonstrate measurable business productivity gains from AI. At the same time, one in four companies has already paused or abandoned their AI initiatives, resulting in an estimated $2 billion in lost cost savings and revenue opportunities.
The study identifies a number of clear factors that distinguish the most successful organizations:
- 31 percent – it is the difference in the overall result between the best performing AI users and those who perform the worst.
- $1–2 billion – the estimated annual return that a typical Global 2000 company can achieve by moving from the group with the weakest performance to the one with the strongest performance.
- $4.7 trillion – the estimated annual untapped value among Global 2000 companies when productivity, revenue and cost reductions are taken into account.
– The results of this study could hardly be clearer: companies that build on a mature technical foundation and first invest in the fundamental conditions for AI are already generating billions of dollars in value that their competitors are missing out on, says Ravi Kumar S, CEO of Cognizant. This is the dividend that those who truly build for AI reap, and it is both measurable and growing. Two-thirds of organizations have yet to achieve any measurable improvement in business productivity with AI. It’s not a lack of technology, it’s a lack of execution.
The study shows that organizations can continue to improve the results of their AI efforts by building strong data infrastructures, focusing their investments, and, when necessary, enlisting the help of strong external partners:
- Focused AI investments yield better results regardless of maturity level. Even organizations with lower technical maturity that have a focused strategy achieve an overall result of 11.4 percent, compared to 9.7 percent for organizations with the same maturity level that invest broadly.
- Widespread data gaps: Organizations with strong data architectures report nearly 27 percent higher productivity gains than others and are more than 20 percent less likely to abort their AI initiatives.
- High-performing organizations use external partners to a significantly greater extent. Between 72 and 76 percent of companies with focused AI strategies are using external expertise, compared to 54–60 percent among companies that invest more broadly.
About Cognizant
Cognizant (Nasdaq: CTSH) is a provider of AI solutions and technology services that helps companies bridge the gap between AI investments and tangible business value by developing end-to-end AI solutions.
With deep expertise across industries, business processes and technology, Cognizant helps organizations integrate their unique business needs into technology systems that empower people, create measurable results and help global businesses stay ahead in a rapidly changing world.
Read more at cognizant.com
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