6 Ways AI Changed Business in 2024, According to Executives

In 2024, AI reshaped business with growing investments, measurable ROI, and a shift toward leadership roles focused on innovation and transformation.

 

Copyright: hbr.org – “6 Ways AI Changed Business in 2024, According to Executives”

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For decades, companies have struggled to capture and integrate data into their decision-making. In spite of protracted efforts, the results have been decidedly mixed. Last year, just 37% of companies reported that efforts to improve data quality had been successful. But recently, something significant has changed: Generative AI has spurred greater interest and investment in data quality and broader data capabilities. After all, great AI relies on great data. Gone are the days when executives dismissed investments in initiatives like these as “just another data project.” Now, to succeed with AI, companies are doubling down on finally getting data right.

This is the principal finding of the 2025 AI & Data Leadership Executive Survey, an industry benchmark survey of Fortune 1000 and global business leaders that I first launched in 2012.
This year’s survey was conducted by the educational Data & AI Leadership Exchange, in partnership with DataIQ, a global community of data and AI leaders. The invitation-only survey respondents comprised senior business leaders from 125 leading companies. This year, 97.6% of survey respondents identified themselves as C-suite executives or equivalents within their organization.

Their responses highlight the extent to which AI has come to drive corporate agendas across the board in just the past year. While most organizations (76.2%) report that they have been using earlier forms of AI, such as machine learning, for more than three years, it has been the arrival of generative AI that has fueled the rapid growth of AI utilization and adoption. This year’s survey findings suggest that we are experiencing a once-in-a-generation transformational moment, akin to the founding of the internet in the 1990s.[…]

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