Companies that "wait and see" on AI will be left behind: Bai...

In a recent survey of over 570 executives by Bain & Company, 75% stated that AI has already met or exceeded their expectations. According to the firm's fourth annual Global Technology Report 2023, the current generation of AI tools and models could help companies speed up 20% of worker tasks without loss in quality. While the ease of access to large language model (LLM) application programming interfaces (APIs) has made it relatively easy to demonstrate new AI-powered products, Bain's survey revealed that 89% of software companies are already using AI to differentiate their products, which is 15 percentage points higher than other sectors. It added that early adopters of AI are already seeing results and productivity gains as they explore new ways to use AI for their businesses. "Innovation is happening quickly, and we are still in early days," said David Crawford (pic), global head o...