Companies can add $460 bn to profits with better AI implementation: Study

Global spending on artificial intelligence (AI) -centric systems would approach $118 billion in 2022 and grow to more than $300 billion by 2026, said a recent study. But all this spending is not paying dividends. Infosys Data+AI Radar found in a study that companies could generate over $460 billion in incremental profits if AI implementation was improved.

The three things companies need for these gains are improved data practices, trust in advanced AI, and AI integration with business operations. However, despite high expectations for data and AI, most companies fail to act on these areas to convert data science to business