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AI Payoff Lags Despite Billions Spent by Companies

Source: nytimes.com

Companies investing billions in AI expected quick profits, but most report no financial gains yet.
A New York Times analysis of S&P 500 firms shows only 6% saw revenue or profit boosts from AI in Q2.
This lag raises doubts about AI hype, with leaders now warning of a long wait for returns.

Big businesses poured money into AI technologies like chatbots and data tools, hoping for fast revenue jumps. Instead, a New York Times review of earnings calls from nearly 500 S&P 500 companies found almost no payoff so far. The core finding is that AI's business benefits are lagging badly, involving tech giants like Microsoft and everyday firms testing tools. It matters because leaders hyped AI as a game-changer, but slow results could shift investments and strategies.