The internet is on fire discussing some recent stories about how the vast majority of enterprise generative AI pilots fail and/or don’t produce measurable value. For example, the New York Times wrote that companies are pouring billions into AI which has yet to pay off, referencing a McKinsey report from earlier this summer which says nearly 80% of companies using gen AI report no material bottom-line impact. Another report from MIT Media Lab claims 95% of gen AI pilots fail, and although that report has serious flaws, it’s fueling the larger conversation nevertheless.
McKinsey is calling this moment of massive adoption with minimal results the “gen AI paradox.” Their advice is just to wait for AI agents to mature so companies can then “reinvent workflows from the ground up.” But what McKinsey (and most of the internet) are missing is that the AI-induced workflow reinvention they’re waiting for is already happening—just not where they’re looking!