Firms trailing in AI race could lose $87M yearly

Automate or dissipate? This appears to be the trend right now in the business sector, according to a Nasdaq-listed developer, which warned that trailing the artificial intelligence (AI) race could mean losing $87 million yearly.

- By ELIJAH FELICE ROSALES

A survey by Nasdaq-listed Couchbase Inc. showed that businesses could lose at least nine percent of their revenue per month if they fail to use AI effectively.

This equates to losses of as much as $87 million annually, resulting from inefficiencies from manual procedures that could have been resolved by automation.

The survey also reported that one in five businesses tend to have insufficient control over AI use within their workplaces. This means they allow employees to have either too much or too limited access to AI tools, increasing risk of abuse or underutilization.