FORBES Article: There's a flood of information highlighting the transformative impact of artificial intelligence in our world. While the excitement is there, there’s a mismatch between the investments being made and the actual rates of AI adoption … in comes HYPE!
Simply put, the math isn’t adding up. One plus one is not equalling two; it’s closer to .01, when it comes to the billions of dollars being poured into AI capabilities and what companies are actually doing with it.
For example, U.S. based companies have invested nearly $290 billion in AI, with optimistic projections estimating a total of $1.2 trillion to $3.8 trillion but only 5.4% of U.S. companies have actually leveraged AI as of February 2024.
Goldman Sachs Research says the U.S. is the market leader in AI technology, with China investments to be likely smaller and more delayed. This makes sense, when 83% of 333 million U.S. companies claim they will be using AI in their business strategies, yet 58% of Chinese companies are leveraging AI, and we will be growing to 6.6% by end of 2024. Thats a 974% difference.
So the main question now is, why. What is the root cause and driving force between the mismatch in investments versus adoption?
While there are many speculations, some are clear:
While there are plenty of logical reasons for the mismatch between AI investments and adoption within the US market (they can be read in detail HERE), its transformative impact however is clear. The technology is here to stay and will likely be embedded in our day-to-day lives without us even knowing it. The question remains, when (not if) the adoption will catch up to the investments.