Artificial intelligence (AI) is rapidly becoming commonplace, despite statistics showing that only approximately 7% to 13% (depending on size) of companies have incorporated AI into their regular business workflows.

Adoption in specific business functions is far higher, with up to 78% of companies reporting use of AI tools in at least one business area. And more than 90% of companies plan to increase AI investment within three years.

This surge in adoption is underpinned by expectations of significant efficiency gains and cost reduction.

Widespread implementation of AI is also accompanied by layoffs. Estimates vary, but it’s clear that within the next decade, millions of jobs will be reshaped or even replaced thanks to AI.

However, despite the lofty promises of AI, many companies aren’t seeing the payoff. Data on productivity gains from AI use is murky at best, and many companies are facing costly implementation failures.

Organisations are falling for what is known as the........

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