Companies ramp up AI spending even as most pilots fail to deploy: Lenovo executive
A Lenovo survey shows companies expect strong returns from AI investments, though most corporate pilots never reach successful deployment
Global businesses are pouring billions into artificial intelligence amid a growing fear of missing out on enterprise AI strategies, according to Ken Wong, president of Lenovo’s Solutions & Services Group (SSG).
However, despite projections of massive financial returns, the vast majority of these initiatives were not deemed a success, he added.
Wong, whose division helps businesses build and maintain AI infrastructure, estimated more than 90 per cent of these pilots fail to reach satisfactory deployment: a failure rate that stands in stark contrast to the booming optimism around the technology.
According to a recent report by Lenovo, which includes a survey of 3,120 tech and business leaders, 96 per cent of polled organisations said they planned to increase their AI spending over the next 12 months.