A study of more than 600 U.S. public companies found that roughly three-quarters have invested in AI and moved beyond pilots but have yet to earn a shareholder-return premium over industry peers. The companies pulling ahead pursue three distinct paths to value'doing existing work more efficiently, improving current products, or creating new offerings'and build the organizational capabilities each requires. To move past the adoption plateau, leaders must match their strategy with redesigned workflows, broad employee AI fluency, or specialist talent, rather than simply adding tools and expanding deployment.
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