Harnessing AI’s potential for business transformation

Only 20% of businesses are reaping 75% of AI’s economic benefits, as they focus on growth rather than just productivity.
Most large Irish companies have spent €720 million on AI initiatives that have failed to deliver meaningful outcomes, with an average financial loss per company of €770,000.
The issue is not a lack of technology access, but poor governance and strategy in how decisions related to AI are made.
For successful AI adoption, organizations need to connect it directly to business strategy, values, risk appetite, and human capabilities.
Strong governance, upskilling of staff, and continuous commitment from all levels of the company are critical for effective AI implementation.
Irish companies lag behind their US counterparts in effective AI governance; only 23% believe their efforts are very effective in this area.
Success in AI adoption depends more on the governance and discipline applied than the speed or extent of adoption.

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