According to a new survey by Google Cloud and the National Research Group, many companies are seeing a return on their investment after adding GenAI to their workplaces. Many companies are starting to use generative AI in their workplaces, and some enterprises are researching whether investing in GenAI is worthwhile. Companies are only willing to invest in AI if it provides a good return and increases productivity.
The survey reveals that 74% of companies using at least one GenAI application saw a return on investment within a year, while 86% reported a revenue increase of up to 6% due to generative AI. The survey included 2,508 senior leaders from companies with over $10 million in revenue. 61% of the companies claimed to use generative AI for at least one application. Companies can go from idea to production of GenAI in less than six months.
Additionally, there was a 45% increase in productivity from using generative AI, with 70% of the productivity gains coming from the IT department. 63% of businesses see AI as a growth driver, while 82% of leaders in financial services reported sector growth due to generative AI.
Upwork surveyed 2,500 C-suite executives to assess how workers feel about productivity after using AI. The report highlights a disconnect between executives and workers regarding GenAI. 81% of executives expect increased output from employees due to AI, but 65% of employees believe AI can boost productivity yet don’t see it at work. 47% of employees are unsure how to use AI effectively for productivity.
Google suggests that companies should provide a detailed AI usage strategy to employees, train the workforce, and involve them in AI-related decisions. 74% of employees believe companies should seek their opinions before implementing AI strategies. As AI yields returns on investment, it’s crucial to include employees in this success.
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The survey reveals that 74% of companies using at least one GenAI application saw a return on investment within a year, while 86% reported a revenue increase of up to 6% due to generative AI. The survey included 2,508 senior leaders from companies with over $10 million in revenue. 61% of the companies claimed to use generative AI for at least one application. Companies can go from idea to production of GenAI in less than six months.
Additionally, there was a 45% increase in productivity from using generative AI, with 70% of the productivity gains coming from the IT department. 63% of businesses see AI as a growth driver, while 82% of leaders in financial services reported sector growth due to generative AI.
Upwork surveyed 2,500 C-suite executives to assess how workers feel about productivity after using AI. The report highlights a disconnect between executives and workers regarding GenAI. 81% of executives expect increased output from employees due to AI, but 65% of employees believe AI can boost productivity yet don’t see it at work. 47% of employees are unsure how to use AI effectively for productivity.
Google suggests that companies should provide a detailed AI usage strategy to employees, train the workforce, and involve them in AI-related decisions. 74% of employees believe companies should seek their opinions before implementing AI strategies. As AI yields returns on investment, it’s crucial to include employees in this success.
Read next: Freelancing Landscape Shifts: Top Hiring Nations Change from 2023 to 2024
