Companies ramp up AI spend, but most pilots fail to deploy: Lenovo executive
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Global businesses are investing heavily in AI, with 96% planning to increase spending over the next year, despite a 90% failure rate in pilot deployments, according to Lenovo's Ken Wong. The average budget growth is expected to exceed 13%, with 93% of organizations anticipating positive returns. However, many companies are still a year away from large-scale adoption, favoring hybrid models for AI workloads. Sectors like software engineering and banking are leading in adoption, while Lenovo's Solutions & Services Group reported a 30% profit surge, highlighting the growing demand for AI infrastructure.
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