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The AI Report That's Spooking Wall Street | The majority of companies are failing to see any returns on their AI investments, a report finds.
The majority of companies are failing to see any returns on their AI investments, a report finds.
Nvidia dropped 3.5% on Tuesday, Arm Holdings fell 3.8%, and data analytics firm Palantir took the hardest hit, plunging nearly 9% yesterday and is still sinking this morning. Aditya Challapally, the report’s lead author, told Fortune the problem isn’t necessarily the AI models themselves, but that most companies don’t know how to use them to their full potential. More than half of generative AI budgets are funneled into sales and marketing tools, but MIT found that real returns come from boring back-office automation—things like eliminating business process outsourcing and streamlining operations.
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