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Investing.com — HSBC says new data provides “further evidence of ROI from AI,” pushing back against rising fears that investors have stepped into “bubble territory.”
In a new note, analyst Yuning Bai argues that critics of artificial intelligence have leaned too heavily into one “startling” and “rather weak” data point.
The anxiety, Bai says, began with a July report from MIT NANDA claiming that “95% of organizations are getting zero return” on their GenAI spending.
According to HSBC, that single number has had “a disproportional impact on the AI bubble debate,” even though the evidence behind it is “rather weak.”
New research paints a very different picture. HSBC highlights a recently published Wharton-GBK study reporting that “many enterprises are already seeing tangible benefits in productivity and performance,” with 74% of companies already reporting positive returns on investment from GenAI deployments.
HSBC cautions that it is “implausible” for AI success rates to jump from 5% to nearly 75% in three months.
Instead, the bank says “measuring the success of AI implementation is difficult and the results are very sensitive to precise methodological choices.”
The 95% statistic, therefore, “can probably be taken with a pinch of salt,” according to Bai.
What matters more, HSBC argues, is consistent measurement over time, a key strength of the Wharton-GBK work, which is now in its third iteration.
The bank says this newer study “provides a useful counterpoint” to the bubble narrative and offers clearer evidence that AI investments are already delivering real, measurable returns for most enterprises.
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