Artificial Intelligence, IQ & Due Diligence

AI has captured the imagination of many economic agents, with greed and fear in equal measure. Treasurers tend to be more circumspect. Is it time for Treasurers to dip a toe into AI, go all-in, or steer clear? For those who get it right by performing essential due diligence, they will increase productivity and improve decision making.  Those who do not perform due diligence, are exposing themselves to massive liability. 

Research by The Massachusetts Institute of Technology (MIT) found that the vast majority of AI investments were yielding “zero return” for businesses. “Despite $30-40bn in enterprise investment into Gen[erative]AI, [the MIT] report uncovers a surprising result in that 95pc of organisations are getting zero return”.

In other words, AI is a tool not the solution.