CEOs want to spend more on AI - but they aren't seeing any big returns just yet (www.techradar.com)

Recent research from PwC reveals that while 81% of UK CEOs prioritize AI and data investments, only 9% have effectively scaled AI within their organizations. Despite the urgency to harness AI's potential—seen as pivotal for competitiveness by over half of the respondents—many businesses face internal challenges such as talent shortages and bureaucratic hurdles. Notably, only 25% of UK CEOs feel they can attract high-quality AI professionals, significantly below the global average of 42%. This disparity underscores the broader issue of low return on investment (ROI), with only 30% reporting revenue growth attributable to AI. PwC argues that the failures are not due to flawed technology but rather organizational constraints. Their report advocates for a 'foundations first' approach, emphasizing the importance of developing AI skills, infrastructure, and governance alongside data foundations. Furthermore, there's a strong interest in next-generation technologies, with 81% of firms exploring agentic AI, which PwC's CTO Umang Paw believes will drive meaningful business transformation. As organizations adapt and set clearer goals, they may unlock the true value of AI, reshaping the competitive landscape in the process.