Study shows ROI concerns hinder AI adoption despite rising budgets
A new study by IDC, commissioned by Lenovo, shows that 42% of global organizations plan to adopt Generative AI, with IT budgets for AI expected to nearly triple in 2025. However, 37% of management remains skeptical about AI's value. Despite the anticipated increase in AI spending, many organizations face challenges, including uncertain financial returns and a lack of readiness. Most AI use cases have met expectations, but proving ROI is still difficult. The research highlights the need for better data management and skilled expertise to successfully implement AI. Many businesses lack AI governance policies, and improving data quality is crucial for effective AI integration.