- Tech and energy giants are among the biggest users of AI, report reveals
- The biggest users are also investing in data centers, chips, models and more.
- AI is becoming concentrated among larger companies, SMBs could struggle with ROI
New data from the AI-Driven Enterprise Institute (AIDE Institute) has revealed that even the top users of AI are not necessarily seeing the most tangible and meaningful returns on investment.
According to the report, Nvidia is one of the largest users of AI, although it is best known for offering AI products and services.
Based on analysis of job postings, patent applications, earnings call discussions and other disclosures, it appears that operations, software, R&D and engineering benefit from the technology.
AI Return on Investment May Take Years
While tech companies like SLB, Amazon and Meta are also among the biggest adopters, research also shows how the technology is becoming more entrenched in other sectors.
For example, Walmart has been using AI to improve inventory forecasting, supply chain management, delivery optimization, and customer service, while energy companies such as AES Corporation, NextEra Energy, and Chevron have been using it to assist in grid management, energy forecasting, and predictive maintenance.
Still, AIDE warns that even these major adopters are not seeing the big benefits promised, arguing that infrastructure upgrades, staff retraining and business process restructuring are holding back the transformation.
Additionally, the research highlights how the largest investors in AI are also investing heavily in data centers, AI chips, network infrastructure and model development, implying that they are at the forefront of the technology and that non-tech companies could see even slower returns.
Ultimately, the data points to AI becoming a concentrated effort among the largest companies with the largest sources of capital and technical capabilities.
With small businesses in particular still unsure of how best to invest in AI, it’s clear that we still don’t know exactly where it can help and where it can generate the best returns.
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